The Minister of Finance, Louis Paul MOTAZE, chaired the official presentation of the National Strategy Document for Inclusive Finance 2023-2027, in the presence of some Government Ministers, Financial and development partners. While addressing participants, he stressed the importance of the country to this program that, “Financial inclusion has been part of the national development priorities for over two decades now” Adding that “the 2023-2027 NSIF therefore builds on the NDS30 and is a Government key factor for growth and poverty alleviation”.
To concretize its determination to this drive, a budget of CFAF 37.767.400.000 (thirty seven billion, seven hundred and sixty seven million, four hundred thousand francs), has been budgeted for the next five years (2023-2027).
The NSIF intends to set up a number of mechanisms to combat banking and financial exclusion and as such, it targets at all Cameroonians facing that problem, that is, particularly youth, women, rural populations and formal/informal MSMEs.
In line with its mission, the overall objective of the 2023-2027 NSIF is, “to ensure over a five (5) year period, access to, and usage of a diversified range of adopted and affordable financial products and services for 65% of the adult population of Cameroon, with special focus on rural populations, women and youth, socially vulnerable groups (SVGs) and MSMEs.
This document outlining the new National Strategy for Inclusive Finance built on the achievements of the 2014 NSIF, is a roadmap agreed upon by all stakeholders of the Cameroonian financial ecosystem for the period running from 2023 to 2027, that sets out all the actions to be carried out over the next five years in a bit to improving financial inclusion in Cameroon.
