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Overview
The Republic of Congo faces significant financial access challenges, with low banking penetration and a heavy reliance on cash transactions. The sector is highly concentrated, with limited innovation compared to regional peers. However, mobile money platforms, driven by telecom operators, have emerged as a critical enabler of digital financial services.
While digital payments show promise, the lack of infrastructure and financial literacy continues to hinder progress. BEAC’s efforts to promote interoperability and regional financial stability provide a pathway for future developments, but for now, open banking remains a distant goal.
Open Banking Nigeria (Open Technology Foundation) is a non-profit backed by a group of industry experts across banking, fintech, risk management, and more to drive and launch the open banking standard in Nigeria.
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