MULTINATIONAL - West African Monetary Institute (Sierra Leone, The Gambia, Liberia and Guinea) - WAMZ Unique Identification (UBI) and Digital Interoperability (AFDB-P-Z1-H00-098)

  • Africa
Geographic location where the impacts of the investment may be experienced.
  • Gambia
  • Guinea
  • Liberia
  • Sierra Leone
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 29, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
West AfricanMonetary Institute (WAMI)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 8.05 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 9.20 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS May 17, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, this project focuses on West African Monetary Zone (WAMZ) Unique Bank Identification (UBI) and Digital Interoperability. It aims to enhance Financial Sector Efficiency, Increased Access to Finance and Greater Regional Integration in the WAMZ. The project will improve their access to financial services by providing them with free identification in FSPs, and will also improve the delivery of social services, particularly money transfer projects. In addition, it will build confidence among financial institutions in the region in terms of capacity and methodologies for implementing international KYC and AML/CFT recommendations. This will result in the removal of a major barrier to inter-bank correspondence, thereby stimulating regional financial trade and integration. The project components are as follows: (i) Harmonisation of Rules and Regulations on UBI Implementation in the WAMZ. (ii) Implementation of UBI in participating member states of the WAMZ (iii)Project Management and Capacity Building.

The project's development objective is to enhance financial sector efficiency, increase access to finance and foster greater regional Integration in the WAMZ. Other objectives include: (i) Reinforce customer protection (ii) Enhance the regulation of the financial sector within the WAMZ and (iii) Foster ongoing digital transformation of national economies.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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Sheila OKIRO


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