In line with this, the Central Bank has earmarked amendments to the Banking Act and Microfinance Act going forward. The amendments to the Banking Act and Microfinance Act are expected to further enhance efficiency and competitiveness of our financial sector.
CBK in collaboration with the Government and the market players will enhance its efforts in addressing other structural rigidities that contribute to market inefficiencies to take stock of developments as well as other emerging constraints. Before I conclude, Ladies and Gentlemen, let me once again take this opportunity to reiterate the critical role of the financial sector in Africa’s economic development.