To unleash development, a more robust and well-coordinated financial inclusion policy is required, according to National Treasury and Economic Planning CS Prof. Njuguna Ndung’u.
According to the CS, in order to create a system of shared physical infrastructure and offer coordinated financial inclusion solutions, cooperation between the public and private sectors is required.
Speaking today at a roundtable discussion on open financial inclusion with Her Majesty Máxima, the Dutch Queen and Secretary-General of the UN Special Advocate for Inclusive Finance for Development (UNSGSA), CS Ndung’u stated that a policy framework will generate opportunities and build data.
According to him, obstacles to financial inclusion will be removed by digital technology and changes in national policy, and financial products will be more diversified to help them move through the markets.
Her Majesty Queen Máxima stated that the creation of a financial inclusion database will make innovations visible and result in efficient and secure financial services.
She stated that in cooperation with partners in the public and private sectors, UNSGSA will establish a database in Kenya to facilitate the spread of financial inclusion.
As the Special Envoy of the UN Secretary-General for Inclusive Finance for Development, Queen Máxima is a prominent global figure in the promotion of equitable access to and responsible utilization of reasonably priced, efficient, and secure financial services.
Dr. James Mwangi, the managing director and chairman of the Equity Bank Kenya Group, was present at the meeting.
