SWAKOPMUND – Cybercrime and the financial inclusion of vulnerable communities emerged as key discussion points at the Alliance for Financial Inclusion (AFI) Global Policy Forum (GPF), underway in Swakopmund.
The four-day event brings together more than 800 delegates from 64 countries, including central bank governors, regulators, and financial experts, to advance financial inclusion and address cyber threats.
The AFI, established in 2008, serves as a platform for members to share strategies and ideas to expand access to financial services, particularly for disadvantaged and vulnerable communities.
Despite progress made over the past decade, 1.3 billion adults worldwide remain excluded from financial services.
Hosting the forum in Africa this year highlights the continent’s leadership in digital financial innovation, particularly mobile money.
Addressing a press conference yesterday, AFI’s director of strategy Dougal Thomson, said significant progress has been made over the past decade, bringing millions into financial services.
“However, there is still a long way to go. The recent global Findex data, a World Bank initiative, shows that 1.3 billion adults around the world remain financially excluded. Our focus at AFI is to bring everybody — old, young, rich, poor, male, female, refugees, disabled — into financial services,” he said.
Thomson explained that the AFI allows countries to learn from one another and implement policies that work. “The AFI is a network of members sharing intelligence, ideas, innovation, and inspiration to bring everybody into financial services,” he said.
Thomson added that cyber threats have become a top priority for African members. “A few months ago, AFI’s African members met in Accra, Ghana, where Namibia was also represented. Cyber threats were the number one topic. These threats are becoming more numerous, sophisticated, and damaging, targeting individuals, businesses, and the financial ecosystem,” he said.
He confirmed that African members have agreed to make cybersecurity a key priority and that a statement outlining steps to strengthen cyber resilience will be published on the AFI website on Thursday.
Kazembire Zemburuka, Bank of Namibia’s director of strategic communications, said protecting consumers is critical as access to financial services expands.
“The finance ministry has launched campaigns around digital financial literacy. Local financial institutions are also stepping up consumer education. Empowering citizens to safely use new technologies is essential,” he said.
Zemburuka added that Namibia learns from global partners to address these challenges. “When consumers are affected, there are channels for grievances. The Bank of Namibia handles complaints and works to resolve them promptly,” he said.
The GPF officially kicked off yesterday under the theme “Empowering Society, Enabling Growth.” It is the third time the forum is hosted in southern Africa and the sixth on the continent.
The AFI is a network of 119 institutions, including 19 central banks and financial regulators. The programme features workshops, technical sessions, and plenary discussions on cyber risks, digital financial services, consumer protection, and gender-inclusive finance. -edeklerk@nepc.com.na