AFRICAN RURAL AND AGRICULTURAL CREDIT ASSOCIATION (AFRACA)

							 STATEMENT BY THE SECRETARY GENERAL OF THE AFRICAN
 RURAL AND AGRICULTURAL CREDIT ASSOCIATION (AFRACA)
  ON THE WORKSHOP FOR SOUTHERN AFRICA SUB-REGIONAL
  Theme: “Integrating Financial Services into the Poverty Reduction Strategies”
                        Dates 11th – 13th September, 2005
                       Venue: Maseru Sun Hotel, Lesotho




Governor, Central Bank of Lesotho
Deputy Governor, Central Bank of Lesotho
Executive Committee Members
Head of Financial Institutions
Distinguished Guest
Ladies and Gentlemen


It is indeed a special privilege for me to take this opportunity on behalf of

African Rural and Agricultural Credit Association (AFRACA) Executive

Committee Members, and make a few remarks, at this second series of

sub-regional workshops on the same topic on “Integrating Financial

Services into the Poverty Reduction Strategies”. The first one for the

English speaking West African II Sub Region took place in Abuja, Nigeria.




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I would like to express my deepest gratitude to those of you who have come
from afar purposely to attend this important meeting.


On behalf of AFRACA´s Executive Committee Members, I would like to
thank the Government of the Kingdom of Lesotho for facilitating the
delegates’ travel to attend this important workshop in this beautiful country.


Recognizing that most of the African governments are continuously looking
for ways to best reduce poverty; this theme is envisaged to open dialogue
between African Governments and bankers in poverty reduction strategies
and how best they can operate.


AFRACA is trying to address all these challenges through carrying out
research to generate ideas to financial institutions on how best to contribute
to poverty reduction using the various financial services they extend to the
population both in the rural and urban areas.


The Objectives of this workshop is:
    to explore the challenges (if any) impeding use of financial services in
     poverty reduction;
    to outline recommendations on the way forward in order for financial
     service provision;
    to prepare an action plan; and
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    share country experiences in integrating financial services into the
     poverty reduction strategies.


Mr. Governor Sir, Distinguished Guests, Ladies and Gentlemen, this
workshop has brought together about 25 participants coming from central
banks, commercial banks, agribanks and microfinance institutions.


We are also privileged to have some members of the Executive Committee
of AFRACA who have been attending the 45th meeting of the Executive
Committee.     We also have Chief Executives, Directors, Heads of
Departments and other senior officers from: South Africa, Zambia,
Mozambique, Mali, Nigeria, Zimbabwe, Senegal, Mauritius, Kenya, and
delegates from the hosting country Lesotho with whom we will all share our
experiences.


National studies have been carried out in Zambia, Zimbabwe, Mozambique,
South Africa, Kenya and Lesotho. All these studies will be presented and
discussed during this workshop.


Mr. Governor, I have no doubt that with such a high level of representation
from the institutions, we shall work out pertinent recommendations for our
member institutions.

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I wish to take this opportunity again to thank you all for accepting to grace
this workshop and to share your experience on “Integrating financial
services into the poverty reduction strategies”. A special thanks goes to the
Management and staff of the Central Bank of Lesotho for accepting to host
this workshop.


Let me take this opportunity to also express my gratitude to all AFRACA
member institutions for their commitment and support to AFRACA activities
as right now the membership stands at 82 members spread over 27 African
countries.


AFRACA is obliged to its donor partners for making it possible for the two
sub-regional workshops to hold and provide well reasoned out ideas for the
role and future of the African continent. The recommendations of the four
workshops will be synthesized at the 15th General Assembly to represent
the position of AFRACA.


I would like to encourage all the participants to make use of this three days
workshop and contribute with their institutional experiences, and based on
this we shall further develop suitable strategies and plans for a realistic way
forward.



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With these few remarks, Mr. Governor Sir, participants, ladies and
gentlemen, I think we should wish ourselves a truly productive workshop on
"Integrating Financial Services into the Poverty Reduction Strategies",
with special reference to the Southern Africa sub region. I also pray that
our deliberations here can bring forth meaningful change to the people of
Africa and our continent. God bless Africa - God bless all of you.


Thank.




                                            Maseru, Lesotho
                                            11th October 2005
                                            Rasmane Ouedraogo
                                            Secretary General




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