Summary of "2025 AFI GPF: Opening Ceremony"
The video covers the opening ceremony of the 2025 Alliance for Financial Inclusion (AFI) Global Policy Forum held in Swakopmund, Namibia. The event gathers nearly 800 global leaders—central bank governors, ministers, regulators, and development partners—to discuss advancing financial inclusion under the theme "Empowering Society, Enabling Growth."
Key moments and highlights include:
- National and African Union Anthems: The ceremony begins with the singing of Namibia’s national anthem and the African Union anthem, symbolizing unity.
- Welcome and Opening Remarks:
- Israel Vuruka, Director of Strategic Communications at the Bank of Namibia, introduces the forum and emphasizes Africa’s role in shaping global financial inclusion.
- Johannes Kavakup, Governor of the Bank of Namibia, officially welcomes participants, highlighting Namibia’s pride in hosting the forum for the first time and stressing financial inclusion as a vital catalyst for social and economic transformation. He outlines Namibia’s challenges such as poverty, inequality, and youth unemployment, and presents Namibia’s digital instant payment system as a key innovation to increase access in its vast rural areas.
- Kavakup underscores the importance of collaboration, consumer protection, digital literacy, and the need to leave no one behind.
- Private Sector Perspective:
- Conrad Dempsey, CEO of FirstRand Namibia, discusses the critical role of public-private partnerships in financial inclusion. He highlights Namibia’s economic potential linked to oil and gas, the importance of inclusive growth, and the need for profitable agent networks in rural areas.
- He stresses that financial inclusion is a human issue involving trust, literacy, and consumer protection, not just technology.
- AFI Board Chair Remarks:
- Madame Sa Hakusare, Governor of the National Bank of Rwanda and incoming AFI board chair, reflects on AFI’s 16-year journey and its impact on over a billion people.
- She outlines five strategic priorities for the network: supportive fintech regulation, innovation experimentation, shifting focus from access to usage and wealth creation, advocating for developing countries in international financial standards, and promoting sustainable finance for climate resilience.
- She emphasizes financial inclusion as a human-centered effort for equity, dignity, and opportunity, highlighting regional initiatives like the Pan-African Payment and Settlement System and the African Continental Free Trade Area.
- AFI CEO Address:
- Dr. Alfred Hanik praises Namibia’s hosting and progress, noting Africa’s leadership in financial inclusion innovation.
- He shares encouraging global trends such as increased account ownership and closing gender gaps among mobile money users but acknowledges ongoing challenges, including 1.4 billion unbanked adults worldwide.
- Hanik stresses the importance of openness to innovation and experimentation, the long-term nature of policy impact, and the strength of AFI’s member-driven, country-owned model.
- He calls the forum a “fireplace” for collaboration and solution-finding.
- Keynote by Namibia’s Minister of Finance, Hon. Erica Shafuda:
- Minister Shafuda warmly welcomes delegates on behalf of Namibia’s government and President.
- She highlights Namibia’s financial inclusion progress, with 78% of adults having formal financial access in 2023, up from 51% a decade earlier.
- She outlines Namibia’s Financial Sector Transformation Strategy (2025–2035) focused on broadening markets, sustainable finance, infrastructure modernization, access, literacy, and consumer protection.
- Shafuda emphasizes digital infrastructure development, including digital identity and blockchain exploration, coupled with expanding financial literacy programs that now cover over 65% of adults.
- She calls for intentional, inclusive design of financial services to reach vulnerable groups such as women, youth (noting 44.5% youth unemployment), and persons with disabilities.
- The minister stresses the importance of collaboration among government, private sector, and development partners to accelerate inclusive growth and reduce inequalities.
- Symbolic Opening Ceremony:
- The forum is officially opened with a ceremonial gong struck by the minister and key leaders, marking the start of the 2025 AFI Global Policy Forum.
- Cultural Segment:
- The Namibian Youth Choir performs, accompanied by visuals celebrating Namibia’s diverse people and their collective journey toward financial inclusion.
- Namibia’s Financial Inclusion Journey:
- A narrated overview traces Namibia’s financial inclusion milestones from independence in 1990 through key innovations such as the establishment of the Bank of Namibia, interbank settlement systems, mobile banking via USSD, interoperability through Namswitch, e-wallets, and regulatory frameworks fostering inclusion, consumer protection, and trust.
Overall Themes:
- Financial inclusion is framed not just as economic access but as a fundamental human right tied to dignity, equity, and opportunity.
- Digital innovation and infrastructure are critical enablers, especially in vast and rural geographies like Namibia.
- Collaboration across public, private, and international sectors is essential.
- The forum serves as a global platform.
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