Recovery, Renewal, Resilience

Lessons for Resilience

Consider how to adopt or accelerate measures to digitize economies to provide safer, more inclusive financial mechanisms
Topic:
Economic
Keywords:
Economic strategy
Content:

Consider:

  • How digitization can facilitate capacity for longer-term economic recovery. For example, in Nigeria, Egypt, and South Africa, increased migration from cash to digital transactions has resulted in more account-to-account transfers and e-commerce sales which boosts economic activity and maintains social distancing
  • The role of digital-payment platforms in increasing financial inclusion outside of traditional banking systems e.g. in Togo through cash transfers that disburse social welfare payments through mobiles
  • Collaboration with banks and non-bank payments players to restructure transaction fees and limits to encourage digital payments
  • Promoting easier access to digital-payment tools e.g. the Ghanaian government eased account-opening regulations
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