Financial Regulatory Bodies in São Tomé and Príncipe Strengthen Ties with Global Network

Overview

The Banco Central de São Tomé e Príncipe has strengthened its position as a key player in the global financial landscape by joining the Alliance for Financial Inclusion (AFI) in November 2015. This significant move has enabled the bank to tap into a network of like-minded financial institutions and regulatory bodies, working together to promote financial inclusion and stability.

Membership Benefits

By joining AFI, the Banco Central de São Tomé e Príncipe has gained access to a network of over 200 financial institutions and regulatory bodies from around the world. This membership has allowed the bank to:

• Participate in four working groups addressing pressing issues such as:
  • Improving access to financial services for low-income households
  • Enhancing financial inclusion for small businesses
  • Developing innovative financial solutions for marginalized communities
  • Strengthening financial stability and resilience

Maya Declaration Targets

São Tomé and Príncipe has made significant strides in meeting two key Maya Declaration targets, underscoring its commitment to advancing financial inclusion:

• Target 1: Increase the proportion of adults with access to a savings account by at least 20% by 2020
• Target 2: Reduce the proportion of households without access to formal financial services by at least 15% by 2020

Key Players

At the helm of this initiative are two prominent figures:

• Américo Cardoso Soares de Barros
• Luís Fernando Moreira de Sousa

Both have been instrumental in driving forward the bank’s efforts to promote financial stability and inclusion.

Learn More

For more information on the Banco Central de São Tomé e Príncipe’s involvement with AFI, visit their website at http://www.bcstp.st/.