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Press Release: Baseline Assessment on the Current situation of Financial and Insurance Services Provision to the Small-Scale Fishers (SSF) and Aquaculture Sectors in Africa

A joint webinar was organized by the Food and Agriculture Organization (FAO), African Rural and Agricultural Credit Association (AFRACA) and the Global Network for capacity building to increase access of financial services to small-scale fisheries (CAFI-SSF Network), to validate the recently concluded study findings with stakeholders particularly financial service providers that includes both banking and insurance organizations within east and west Africa region. The webinar was organized on 18 August 2021 and attended by more than 60 stakeholders from east...

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Financing Innovation for Sustainable Fisheries with the Private Sector

AFRACA in collaboration with the UN’s Food and Agriculture Organization and State Department for Fisheries, Aquaculture & the Blue Economy held the National Small-Scale Fisheries and Finance Stakeholders’ Workshop from 11-12 August 2021 at Beaumont Resort, Mombasa, Kenya. The workshop aimed to support fishing enterprises in Kenya access financial services and to share findings of a baseline study commissioned by AFRACA & FAO on Credit, Microfinance & Insurance needs of fishers in Mombasa, Kwale and Kilifi counties. The Chief Guest Mrs....

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President Kenyatta Applauds Equity Bank for Expanding Economic Trade through Continental Expansion

Kenya’s President Mr. Uhuru Kenyatta during his state visit in Kinshasa, Democratic Republic of Congo (DRC) on 21st April. 2021 commended Equity Bank for its rapid expansion in the continent which has promoted African unity and economic freedom. Mr. Kenyatta was speaking during the official inauguration of the merger between Banque Commerciale du Congo (BCDC) and Equity Bank Congo (EBC) into Equity Banque Commercial du Congo (Equity BCDC) after an approval of the merger by the Central Bank of Congo on...

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Regulating Nano Lending in Kenya

By David Cracknel The launch of M-Pesa in Kenya in 2007, heralded significant change that included: Increased financial inclusion by providing relatively low cost, locally accessible financial services.Evolution in channels with customers accessing services through their phones and mobile money agents.The development of a digital finance ecosystem around M-Pesa, enabling an ever-increasing range of services.Reduced barriers to entry for financial technology with service providers able to construct products relatively inexpensively without the need to invest in expensive architecture.Increased returns to information: with new services being information...

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USAID Partners with Family Bank, Kenya to support Agribusinesses

The Kenya Investment Mechanism, a USAID funded program has partnered with Family Bank through an initiative dubbed “Pay for Results” to disburse loans worth 500 million shillings to agribusiness in selected 17 counties namely: Wajir, Garissa, Turkana, Kisumu, Kisii, Siaya, Kakamega, Bungoma, Busia, Vihiga, Kitui, Makueni, Taita Taveta, Isiolo, Homa Bay, Migori and Marsabit “The agri-business sector faces challenges accessing affordable credit and technical support. Through this partnership, we will provide affordable credit and capacity building to our SME customers to...

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AGRA and PAFO Partner to Support Smallholder Farmers in Africa

The Alliance for a Green Revolution in Africa (AGRA) and the Pan African Farmers Organization (PAFO) have signed a partnership agreement to strengthen capacities of African farmer’s organizations by providing efficient services to small holder farmers especially youth and women. AGRA will support farmer organizations drive policy issues affecting them by scaling them at national, regional, and continental level. The policy issues to be tackled will be aligned to the Africa Agriculture Transformation Scorecard and the Malabo declaration which provide a...

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Opinion: Why Central Banks Care about Climate Change

By Dr. Alfred Hanning, Executive Director Alliance for Financial Inclusion Central banks tend not to be seen as innovative climate change pioneers, but as extreme weather events continue to undermine economic stability, real change is afoot. In the global south — where populations tend to be the most exposed and least equipped to cope with the ongoing climate emergency — financial powerhouses are shrugging off their conservative image and promoting new developments in sustainable and green finance. Better known as Inclusive Green...

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Food Security Monitor: Africa Food Trade & Resilience Initiative

The March Food Security Monitor Report is out! The report highlights the food security situation in East Africa, West Africa and Southern Africa. In March, the Food and Agriculture Organization of the United Nations (FAO) and the World Food Programme issued an early warning that 20 countries across at the World, out of which 13 are in Africa are food insecure as a result of the covid19 impact, conflicts and displacements, weather shocks, desert locust amongst others. On food trade, the report...

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Youth Financial Inclusion Policy Framework

By 2050, the global population is expected to reach 9 billion, half of which will be found on the African continent. Current estimates show that the African population is more than a billion people of whom over 60 per cent are young men and women under the age 35, about 364 million of these are between the ages of 15-35, making Africa the youngest population in the world. Despite their potential most youth face unemployment, underemployment, lack of adequate and sometimes...

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Financial Literacy Transforms Refugee Livelihoods

By Tilda Nabbanja, Team Leader Financial Literacy, Bank of Uganda, and Mariam Zahari, Policy Specialist, AFI Bank of Uganda (BOU) has long considered financial literacy a crucial component for enhancing financial inclusion, requiring attention both on a national scale and for targeted vulnerable groups, including Uganda’s sizeable refugee population. With 1.4 million refugees and asylum seekers living within its borders, Uganda is the largest refugee host country in Africa. Most have fled conflict in Burundi, Democratic Republic of Congo, Rwanda, Somalia and...

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