Burkina Faso: Creation of the National Agency for the Promotion of Inclusive Finance, A commitment to economic equity
Burkina Faso takes a decisive step in its fight against economic inequalities with the creation of the National Agency for the Promotion of Inclusive Finance (ANPFI). Adopted by the Council of Ministers on December 26, 2024, this initiative is part of a broader strategy aimed at improving access to financial services for vulnerable populations and small and medium-sized enterprises (SMEs), tailored to their specific needs.
The primary goal of the ANPFI is to bridge the financial gap that marginalizes key segments of Burkinabé society, including farmers, artisans, and women entrepreneurs. The agency positions itself as a catalyst for economic equity, enabling these groups to access innovative financial tools suited to their realities.
In parallel, the ANPFI will develop educational programs to raise awareness about the opportunities within the financial system. By providing the necessary resources and knowledge, it aims to build a financially autonomous and resilient society.
A result of the merger between the National Inclusive Finance Fund (FONAFI) and the Technical Secretariat for Financial Inclusion Promotion (ST-PIF), the ANPFI streamlines administrative structures to optimize performance and reduce costs. This integrated model will foster better coordination of initiatives and efficient use of resources allocated to financial inclusion.
The strategy also relies on partnerships with banks, microfinance institutions, NGOs, and fintechs. This synergy will pool efforts for an inclusive financial ecosystem capable of generating jobs, stimulating entrepreneurship, and supporting local projects.
The establishment of the ANPFI is part of the continuation of the National Inclusive Finance Strategy (SNFI 2019-2023), through which the country achieved a financial inclusion rate of 79.04% in 2023. However, challenges remain: ensuring the sustainability of inclusion mechanisms, expanding the reach of financial services, and strengthening consumer protection.
Through this agency, Burkina Faso reaffirms its commitment to building an inclusive and sustainable economy. The ANPFI will need to meet the challenge of being both a facilitator and a catalyst for innovation, transforming financial opportunities into tools of empowerment for all.
