Thursday January 25, 2024, at the Grand Hôtel de Kintélé (north of Brazzaville), Mr. Jean-Baptiste ONDAYE, Congolese Minister of Economy and Finance, opened the work of the first edition of Africa Finance Banking & Digitalization Summit ( AFBDS) or African Summit of finance, banking and digitalization in the Central African Economic and Monetary Community (CEMAC), in the presence, in particular of some members of the Government and those of the diplomatic corps, leaders of institutions sub-regional communities (BEAC, BDEAC, COBAC), representatives of technical and financial partners, as well as general managers of banks.

This first edition is placed under the theme: “Digitalization of the banking and financial sector, a vector of growth and integration in CEMAC”

For two days, participants in these meetings will share their experiences around different themes, such as Fintech and financial compliance; technological innovation; the challenges of the banking and financial ecosystem in the CEMAC region; financial inclusion; the digitalization of payments; securing financial and banking digitalization; and the role of women in the development of Fintech.

In his opening speech, Mr. Jean-Baptiste ONDAYE hoped that the exchanges between participants would enlighten decision-makers on some of the challenges that still remain in the environment of the CEMAC States in terms of digitalization of the financial sector.

Indeed, although some progress has been recorded in the Republic of Congo, for example, in the areas of digitalization and financial inclusion, the Congolese Minister of Economy and Finance deplored some weaknesses, in these terms : “We are delighted that the study carried out in 2020 by the National Economic and Financial Committee (CNEF) of the Republic of Congo revealed that all banks in Congo offer their customers digital services and products. These establishments, for the most part, have digital applications allowing their customers to carry out their transactions online. Without being exhaustive, these services range from consulting account balances and statements, transferring funds between accounts, opening an account and taking out a subscription online, including the possibility of pay bills and make cross-border payments. On the other hand, microfinance establishments in Congo present a fairly low level of digitalization, even though they are at the center of financial inclusion strategies. Furthermore, in our country, during salary payment periods, it still happens that civil servants assigned inside the country are paid in cash, while mobile money solutions exist today.

Please note that the organization of this meeting is under the care of Mrs. Judicaëlle OKEMBA, General Commissioner of the Summit.

The Communication Unit of the Ministry of Economy and Finance

Photo credits : B2B Communication