Tanzania's Prof Ndulu to chair financial inclusion body

The Bank of Tanzania (BoT), Governor Prof, Benno Ndulu (pictured), has been appointed as the new chairman of the Alliance for Financial Inclusion (AFI), Board effective last month.

The Board was previously being called AFI Steering Committee and prior to his new appointment, Prof Ndulu was the Vice Chair of the AFI Steering Committee.

The appointment, begun from December 15, 2015, which was made by the AFI board, following the departure of its Chair, Dr Daniel Schydlowsky, from Peru.

The AFI Executive Director, Dr Alfred Hannig, said “I wish to take this opportunity to thank Dr Schydlowsky for his inspiring leadership of AFI and also to welcome Professor Ndulu, who is no stranger to AFI leadership.”

The Alliance for Financial Inclusion (AFI) was founded in 2008 as the first global knowledge sharing network designed exclusively for financial inclusion policymakers from developing countries.

Since that time, the AFI network of members has grown each year and now represents the largest organisation of financial inclusion policymakers from the developing world.

The appointment comes at a time when the country set new financial inclusion goal of 75 per cent to be reached in this year, after surpassing 55 per cent goal in 2014.

Also mobile phone accounts are three times above the Sub-Saharan Africa (SSA), average to place the country at the pole position globally.

According to the World Bank (WB), Tanzania mobile accounts stand at 32.4 per cent compared to 11.5 per cent, which was the average for SSA last year.

The WB data show that the mobile telephone sending money transactions reached 71.5 per cent against 30.8 per cent of SSA.

While sending transaction via financial institutions amounted to merely 10.7 per cent well below the SSA average of 31 per cent.

The Governor would steer the AFI which achieved its mission by administering several types of financial inclusion policy related activities including a membership program, the convening of working groups and the provision of grants.

It provides its members with the tools and resources to share and implement their knowledge of policies that increase access to financial services for the poor.

AFI membership benefits include increased access to peers, knowledge, global dialogue, grants, resources and access to the online member zone.

While AFI membership is restricted to policymaking and regulatory institutions only, AFI engages with variety of stakeholders, including the private sector, through its strategic partnership platforms.

In Tanzania, BoT and the Social Security Regulatory Authority (SSRA), are members of the AFI, and AFI peer learning knowledge exchanges have benefited, members of the National Council for National Financial Inclusion in its Global Policy Forums that links international experts on financial inclusion annually.
Source: Daily News, reported from Dar es Salaam, Tanzania
Share on Google Plus

About Abduel Elinaza

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.