The Central Bank of West African States reported that the Council of Ministers of the West African Monetary Union has adopted a new regional policy and strategy framework for financial inclusion in the West African Economic and Monetary Union (WAEMU). The 2025–2030 strategy replaces the first regional financial inclusion strategy approved in 2016 and sets a headline target of at least 90% of the adult population using suitable and affordable financial services by 2030. Implementation of the 2016 strategy helped lift the share of adults holding an account with WAEMU financial institutions from 47% in 2016 to 72.3% at end-2023, corresponding to 196.4 million new bank, microfinance and electronic money accounts. The new strategy prioritises expanded availability and effective use of a wider range of products, including savings, credit and insurance, with a focus on women, youth, rural communities, small and medium-sized enterprises and industries, forcibly displaced persons, people with disabilities and populations with low financial literacy. It is structured around five strategic pillars: strengthening the legal, supervisory and consumer protection framework; continuing the clean-up and strengthening of the microfinance sector; promoting financial innovation and the availability of formal financing services; improving financial education; and leveraging data and information sharing to improve market understanding and support coherent inclusion policies. The strategy was developed by the Central Bank of West African States in consultation with member states, financial sector participants, technical and financial partners, and consumer associations, and will be delivered through a coordinated action plan over 2025–2030.
Central Bank of West African States 2025-04-15
Central Bank of West African States announces adoption of a new WAEMU financial inclusion strategy targeting 90% adult usage by 2030
The Central Bank of West African States announced a new financial inclusion strategy for the West African Economic and Monetary Union, targeting 90% adult usage of financial services by 2030. This 2025–2030 strategy, replacing the 2016 framework, focuses on expanding access to savings, credit, and insurance, particularly for underserved groups. It is structured around five pillars: legal framework enhancement, microfinance sector strengthening, financial innovation, education, and data utilization.