H.M. Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), provided prerecorded video remarks for Tanzania's third National Financial Inclusion Framework Launch held in Dar es Salaam, Tanzania, on 3 August 2023.
President Samia, Ministers, Governor Tutuba, Your Excellencies, Ladies and Gentlemen,
Welcome, everyone, to the launch of the third Tanzanian National Financial Inclusion Framework. It is a pleasure to virtually join today. In 2013, I had the privilege of supporting the first framework alongside the late Governor Ndulu — an inspiration to all of us.
Tanzania has made incredible strides since then!
During my visit to Kilimanjaro last October, I met with smallholder farmers. They use innovative microinsurance services provided by ACRE Africa to help mitigate extreme weather impacts. The financial services provider offers affordable microinsurance to farmers using weather satellite data to assess and predict risks. When disaster strikes, this data is used to trigger payouts that farmers receive digitally.
This innovative set of digital services is helping farmers become more resilient to climate change. With the confidence gained from insurance coverage, they now invest in drought-resistant seeds and vital inputs like fertilizer to maximize crop yields.
One innovation can unleash a cascade of benefits. This is the holistic promise of inclusive finance, especially digital.
Financial inclusion matters because it has the power to transform lives and livelihoods. Yet, it is not an end.
Rather, financial inclusion is a catalyst for jobs creation and enables active participation in an increasingly digital economy. It also provides a safety net against adversities like illness, drought, or accidents, while simultaneously fostering financial health. Additionally, it empowers women, boosts income levels, and enhances productivity. These benefits go beyond individuals and families. They resonate throughout the nation and contribute to stronger, more cohesive communities.
Today, I am thrilled by Tanzania’s powerful vision to harness technology and data for inclusive and affordable digital financial services.
The renewed focus on improving access and usage is critical. I am also delighted to see the commitment to enhancing the quality of financial services, making sure they are beneficial and help build resilience for everyone in Tanzania. This sets a new standard and matches Tanzania's reputation as a global leader in financial inclusion.
Ensuring an inclusive and secure digital infrastructure is paramount, particularly in overcoming the challenges faced by the most vulnerable groups, including the youth, women, and small businesses. I applaud the thoughtful approach taken in policy plans to specifically address the needs of these segments.
Special congratulations to Governor Tutuba and Minister Nchemba on your commendable efforts. I am certain you both are aware that this is just the beginning.
Your continued guidance in sequencing and prioritizing outcomes, coordinating across government, and defining how different strategic objectives effectively complement each other will be essential. Creativity and engagement with customers, innovators, and various government entities will be needed to maximize the benefits of digital financial inclusion for the poor and vulnerable.
Finally, I extend my gratitude to President Samia for your unwavering support in making financial inclusion a top priority for advancing Tanzania's economic and social development. Your steadfast leadership will play a pivotal role in effectively coordinating, implementing, and ensuring accountability among agencies to deliver tangible results.
My partners and I are here to support you. I wish you success in all your efforts.
Thank You.