Bridging the financial inclusion gap in Africa

The African Foundation for Development (AFFORD) will be holding its 16th annual event the African Diaspora Development Day (AD3) conference on 1 July 2016 in partnership with the Royal Institute of International Affairs, Chatham House.

AD3 serves as a platform for networking and the sharing of knowledge, information and best practice, with UK, African and other multi-lateral policymakers and explore and share insights on how the diaspora can contribute towards creating an Africa where their passions and innovations can thrive. AD3 will bring together individuals and stakeholders working in social and innovative enterprises.

AFFORD is a UK registered charity, with a mission is to expand and enhance the contributions that Africans in the diaspora make to Africa’s development. It works with a sister organisation, AFFORD-SL around a strategic focus of supporting enterprises to create sustainable jobs.

This year the focus will be on financial inclusion as we have seen that despite the impressive growth rates witnessed in many African countries over the past decade, for growth to be sustainable and for development to be widely spread, it is imperative that all sections of society are financially included. The data shows that Africa is falling behind other continents when it comes to inclusive financing, with only 34% of adults having a bank account and 16% of adults having formal savings; the second lowest of any region in the world (World Bank, 2014). The diaspora, in particular, have had limited access to formal financial structures and products, which has minimised their role as investors and entrepreneurs in Africa.

This event will bring together experts and representatives from institutions in the field who will discuss how they are addressing broadening financial access to the excluded. It will:

- Examine current and innovative methods for addressing the financial inclusion gap

- Discuss what policy or infrastructure areas need attention to bridge this gap

- Identify ways forward

Date: Friday 1st July 2016

Time: 5pm to 6.30pm (Reception 6.30pm to 7.30pm)

Venue: The Royal Institute of International Affairs, Chatham House 10 St James's Square, London SW1Y

AD3 is a continued step towards Africa's transformation and we hope you will be able to attend this year’s event, where there will be substantive exchange of experiences and ideas.

To register for AD3 2016 click here If you have any questions or would like further information please do get in touch with Elvina Quaison elvina@afford-uk.org or call 0203 326 3750.