2023-11-02 10:22:10
Celebrated on October 31 each year, World Savings Day (WSD) saw the launch of its 6th edition on Tuesday October 31, 2023 in Benin. An initiative of the Financial Inclusion Society (SIF-Group), this annual event highlights the importance of savings as well as the role of local authorities in promoting formal savings in Benin.
Sylvestre TCHOMAKOU
Contributing to making the world more inclusive by giving households the means to take charge of their lives, and enabling the financing of investment by businesses and public administrations, formal savings as a fundamental principle of financial inclusion, remains the one of the major concerns of the Financial Inclusion Company (SIF Groupe). Faithful to the mission it has assigned itself, the institution led by Armel Allavo did not fail to sacrifice tradition by celebrating, in Benin, the 6th edition of World Savings Day (WSD) . Launched at the Abomey-Calavi town hall, the 2023 edition of the JME not only has the merit of focusing on the contribution of local authorities in the promotion of formal savings, but also of covering, better than through the past, 33 municipalities compared to 29 in 2022 and 11 in 2021. Through this meeting under the theme “Savings, cornerstone of financial inclusion”, it is, according to the Manager of SIF Groupe, Armel Allavo, to highlight the potential of savings for the financial inclusion of all, particularly the most vulnerable. The first since the adoption by Benin last March of the national financial inclusion strategy for the period 2023-2027, this edition, argued the Manager of SIF Groupe, will make it possible to “popularize savings among populations to greater resilience in the face of recurring crises in the world and more adequate management of periods of uncertainty or hard blows in life.” Better, he says, “financial inclusion is a fundamental principle for the sustainable development, equality, and prosperity of our communities. It is a bridge to a more equitable future where everyone has the opportunity to realize their dreams, build a stable financial future, and actively contribute to the growth of our nation.”
Measuring the importance of the initiative for both the household and national economies, the mayor of the town of Abomey-Calavi, Angelo Ahouandjinou, was quick to salute SIF Groupe for the involvement of local authorities. “Savings represent hope, prudence and the possibility of realizing dreams for many people around the world,” he will say before committing: “We will spare no effort to build with all the actors, an inclusive, healthy and prosperous finance ecosystem, a source of wealth creation favoring an increase in municipal revenues, a catalyst for inclusive, innovative and sustainable development. This is when the Representative of the Minister of Economy and Finance, the Director of Insurance, Odon Koupaki, will intervene. Expressing his satisfaction with the commitment of Armel Allavo and his family in the promotion of savings, “in a constantly evolving world, he will say, savings remains an essential means of facing unforeseen challenges” . Insisting that “savings is an act of financial foresight which contributes to improving the quality of life and the economic growth of a country”, he reiterated Minister Wadagni’s commitment to supporting this initiative which gives a boost to financial inclusion in Benin.
Several activities are planned over the four (04) days that JME 2023 will last. These include, among others, awareness workshops, training and presentation of savings products by banks, decentralized financial systems (SFD), insurance companies, electronic money issuers and Management and Intermediation Company (SGI). Added to this is the savings fair open to the public in the 33 municipalities, as well as the presentation of innovations from Fintech players to support the promotion of the savings culture.
QA November 2, 2023
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