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East Africa
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| FSVC Volunteer Julia Mold at a meeting with the Capital Markets Authority in Kenya |
Beginning in October 2011, FSVC will initiate technical assistance programs in Kenya and the region. In partnership with the U.S. Agency for International Development (USAID) and the Open Society Foundation, FSVC will run a three-year program to promote regional financial sector deepening and integration among the five members of the East African Community (EAC). To promote transparency, financial inclusion, and economic justice in the EAC, FSVC will deliver technical assistance by assessing current EAC members’ capabilities and tailoring workshops that bring regional counterparts together. Assessments and workshops will focus internal/cross-border banking supervision, small and medium-sized enterprise lending, anti-money laundering and combating the financing of terrorism (AML/CFT), and capital markets development, among others. FSVC will collaborate mainly with the EAC Secretariat, as well as the Central Bank of Kenya on this program.
The second program in Kenya is in partnership with the Bill & Melinda Gates Foundation, and focuses on AML/CFT and financial inclusion. FSVC will deliver an assessment of the challenges that must be overcome to develop a framework for anti-money laundering (AML) and combating the financing of terrorism (CFT) in Kenya that is both effective and compatible with the objectives of financial inclusion. This program will result in a report suitable for public distribution on “lessons learned” from the Kenyan experience, and would create a basis for applying appropriate remedies in Kenya and other emerging market countries. An initial assessment was conducted in October 2011 by four FSVC volunteers, followed by more in-depth consultations in November 2011, and a final workshop in January 2012. To implement this program, FSVC will collaborate with senior management at the Central Bank of Kenya, the Kenya Bankers Association, local banks, other business associations, and non bank financial institutions, among others.
In the links below, visitors can view FSVC's most recent Success Stories and News Items concerning East Africa:
- News Item: FSVC Receives $1.5 million to Support Regional Financial Integration within the East African Community (July, 2011)
- News Item: FSVC Receives $1.5 million to Support Regional Financial Integration within the East African Community (July, 2011)
Office Contact
Silas Karuku, Regional Director
skaruku@fsvc.org
