Mohamud Addresses IADI-ARC, Calls for Deliberate Efforts to Fast Track D.I in Africa.

The International Association of Deposit Insurers  African Regional Committee (IADI-ARC) membership, has been challenged to heavily invest in key areas aimed at accelerating the growth of deposit insurance concept in the region.

Addressing delegates at the IADI-ARC conference in Zimbabwe, Mr Mohamud A. Mohamud, Regional Chairman and Chief Executive Officer of the Kenya Deposit Insurance Corporation, pointed out that though Africa had recorded significant milestones, there was need to aggressively confront emerging challenges that threaten to derail the growth of deposit insurance in Africa and the world at large.

He said that the conference provided an important platform for embracing existing opportunities and championing practical solutions against challenges such as financial technology, climate change, market correlation, e-money among others.

Mohamud who affirmed the IADI-ARC’s commitment towards strategic collaboration with all stakeholders, underscored the importance of continued investment in capacity building, awareness creation, coverage of e-money access to seed capital as well as bank crisis management and D.I frameworks. “Such interventions, will help in aligning and enhancing the mandate of DIs across the globe. This meeting therefore, will offer a platform for the Executive Committee to review achievements and  map out future engagements for member countries,” said Mohamud.

Key topics of discussion included Climate Change and its impact on Deposit Insurance, Regulatory Framework for Mobile Money and Fintech Products and Emerging Issues for Deposit Insurers.

Mohamud’s remarks came as KDIC enters the final phase of implementing  its 2018-2023 Strategic Plan that has seen the state agency record significant milestones in key areas focus areas.

The event brought together participants  from eighteen countries among them Kenya, Nigeria, Ghana, Uganda, Botswana, Malawi and the host country Zimbabwe, with speakers being drawn from various DI jurisdictions across the globe.