Opportunities and challenges for monetary and financial stability: Dakar hosts the International Conference on Crypto-assets and Digital Innovations

Mr Cheikh DIBA, Minister of Finance and the Budget, presided over the opening of the International Conference on the theme: “Cryptoassets and Digital Innovations: Opportunities and Challenges for Monetary and Financial Stability”, organised by the Central Bank of West African States (BCEAO).

This international meeting provides a forum for discussion and reflection on the challenges of monetary sovereignty, financial supervision, cybersecurity and the adaptation of prudential frameworks in the face of rapid changes in the digital economy. It takes place against a backdrop of accelerated transformation of the global financial system, marked in particular by the rise of new forms of digital finance and discussions surrounding central bank digital currencies.

Through the “Technological New Deal”, its national digital transformation strategy, Senegal has undertaken several reforms to strengthen digital sovereignty, modernise public services and position the country as a technological and financial hub in Africa.

Through its national digital transformation strategy, the ‘Technological New Deal’, Senegal has introduced a number of reforms to strengthen digital sovereignty, modernise public services and position the country as a technological and financial hub in Africa.

In his address, the Minister of Finance and the Budget highlighted the major opportunities offered by digital innovations, particularly in terms of modernising financial systems, strengthening financial inclusion, improving payment efficiency and regional economic integration.

He also emphasised the need to establish an appropriate regulatory framework that balances innovation, financial stability, transaction security and consumer protection.