EAC urged to promote financial inclusion in east Africa

The East African Community needs a strong and uniform regulatory framework that promote financial inclusion to ensure sustainable growth in the region.

Prof Lemma Senbet, from the African Economic Research Consortium says that a regionally integrated financial system that feeds into a global system will help strengthen the financial industry on the continent.

Senbet also noted that a strong linkage between the financial industry and other sectors of the economy is crucial for Africa.

The professor stated that It is important to have a globally competitive financial system and regulatory framework to ensure best practices.