Making Finance Work for Africa (MFW4A)
This project examined the successful implementation of reforms helping to develop the financial system in Africa. Though continuing to make progress, the continent has not fully reached its potential in this field. Therefore the research team was not only analysing factors for success but also for possible obstacles. The focus was on configurations of stakeholders, who push or block the reforms.
Financing:
Federal Ministry for Economic Cooperation and Development (BMZ) Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH
Time frame:
2009 - 2013
/
completed
Project description
In many cases the steps necessary for reform in the field of financial system development are recognised on both national and regional level in Africa. Moreover there exist numerous concepts with respect to the technical aspects of such reforms. Despite having made progress in financial system reform, African countries and regions appear to have not yet reached their full potential for reform in this field.
The research project thus examined success factors and key obstacles in designing and implementing financial system reform policies, taking primarily a political economy perspective. Which are the relevant configurations of stakeholders and of their interests in the field of financial system reforms? Under which conditions do particular configurations block reform and when do they facilitate or even drive them?
The Partnership for Making Finance Work for Africa (MFW4A), supported by AfDB, AFD, Germany, DFID, USAID, SIDA, CGAP, IMF, FIRST, UNCDF, MinBuZa and the World Bank Group, is an initiative to support the efforts of African countries to accelerate economic growth and reduce poverty by promoting financial sector development. The Partnership is based on the recognition that the financial sector is a key driver of private investment, employment generation and economic growth in Africa.