Financing Africa : Through the Crisis and Beyond

Financing Africa: through the crisis and beyond is a call to arms for a new approach to Africa's financial sector development. First, policy makers should focus on increasing competition within and outside the banking sector to foster innovati...

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Main Authors:	Beck, Thorsten, Maimbo, Samuel Munzele, Faye, Issa, Triki, Thouraya
Format:	Publication
Language:	English
Published:	World Bank 2012
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000356161_20110928015744 http://hdl.handle.net/10986/2355

id	okr-10986-2355
recordtype	oai_dc
spelling	okr-10986-23552021-04-23T14:02:01Z Financing Africa : Through the Crisis and Beyond Beck, Thorsten Maimbo, Samuel Munzele Faye, Issa Triki, Thouraya Financing Africa: through the crisis and beyond is a call to arms for a new approach to Africa's financial sector development. First, policy makers should focus on increasing competition within and outside the banking sector to foster innovation. This implies a more open regulatory mindset, possibly reversing the usual timeline of legislation-regulation-innovation for new players and products. It also implies expanding traditional infrastructure, such as credit registries and payment systems beyond banks. Second, the focus should be on services rather than existing institutions and markets. Expanding provision of payment, savings and other financial services to the unbanked might mean looking beyond existing institutions, products, and delivery channels, such as banks, traditional checking accounts, and brick-and-mortar branches. All financial sector policy is local. To reap the benefits of globalization, regional integration, and technology, policy makers have to recognize the politics of financial deepening and build constituencies for financial sector reform. While the challenges of expanding access, lengthening contracts, and safeguarding the financial system are similar, the ways of addressing them will depend on the circumstances and context of each country. With its cautiously optimistic tone, this book creates an opportunity for Africa's policy makers, private sector, civil society, and development partners to harness the progress of the past as a way to address the challenges of the future and enable the financial sector to play its rightful role in Africa's transformation. 2012-03-19T09:04:45Z 2012-03-19T09:04:45Z 2011-09-07 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000356161_20110928015744 978-0-8213-8797-9 http://hdl.handle.net/10986/2355 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
geographic_facet	Africa
description	Financing Africa: through the crisis and beyond is a call to arms for a new approach to Africa's financial sector development. First, policy makers should focus on increasing competition within and outside the banking sector to foster innovation. This implies a more open regulatory mindset, possibly reversing the usual timeline of legislation-regulation-innovation for new players and products. It also implies expanding traditional infrastructure, such as credit registries and payment systems beyond banks. Second, the focus should be on services rather than existing institutions and markets. Expanding provision of payment, savings and other financial services to the unbanked might mean looking beyond existing institutions, products, and delivery channels, such as banks, traditional checking accounts, and brick-and-mortar branches. All financial sector policy is local. To reap the benefits of globalization, regional integration, and technology, policy makers have to recognize the politics of financial deepening and build constituencies for financial sector reform. While the challenges of expanding access, lengthening contracts, and safeguarding the financial system are similar, the ways of addressing them will depend on the circumstances and context of each country. With its cautiously optimistic tone, this book creates an opportunity for Africa's policy makers, private sector, civil society, and development partners to harness the progress of the past as a way to address the challenges of the future and enable the financial sector to play its rightful role in Africa's transformation.
format	Publications & Research :: Publication
author	Beck, Thorsten Maimbo, Samuel Munzele Faye, Issa Triki, Thouraya
spellingShingle	Beck, Thorsten Maimbo, Samuel Munzele Faye, Issa Triki, Thouraya Financing Africa : Through the Crisis and Beyond
author_facet	Beck, Thorsten Maimbo, Samuel Munzele Faye, Issa Triki, Thouraya
author_sort	Beck, Thorsten
title	Financing Africa : Through the Crisis and Beyond
title_short	Financing Africa : Through the Crisis and Beyond
title_full	Financing Africa : Through the Crisis and Beyond
title_fullStr	Financing Africa : Through the Crisis and Beyond
title_full_unstemmed	Financing Africa : Through the Crisis and Beyond
title_sort	financing africa : through the crisis and beyond
publisher	World Bank
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000356161_20110928015744 http://hdl.handle.net/10986/2355
_version_	1764385313984086016

Financing Africa : Through the Crisis and Beyond

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