| Project Detail |
In order to address the multidimensional challenges of its sustainable development trajectory, the Comoros government has set up the Comoros Emerging Plan (PCE) aimed at making the Union an emerging country by 2030. While the conditions for implementing the PCE are subject to an unprecedented financial commitment from the State, economic agents, the diaspora and partners, the authorities must accelerate their efforts to significantly improve the business climate and consolidate the national financial architecture to support the expected investments. However, the Comorian financial system faces two major challenges that hinder its development: ensuring financial stability in the context of a fragile and structurally risky financial center and, at the same time, strengthening the financial inclusion framework to support the implementation of the PCE
The situation of the Société Nationale des Postes et Services Financiers (SNPSF) alone symbolises the ridge path to be taken to address these two challenges. A state-owned financial institution, the SNPSF aims to provide a public postal service and offer basic financial services at the national level. Of systemic importance (15% of deposits and 11% of credits, with a tacit monopoly on domiciliation of civil servants salaries and a predominant role in diaspora fund transfers), the SNPSF is currently in a situation of insolvency and is subject to a resolution procedure by the Central Bank of the Comoros (BCC). It constitutes a major risk to financial stability, as much as it concentrates opportunities in terms of financial inclusion and financing of the productive fabric. In this context,
the resolution plan in place since 2020 aims to neutralize the systemic risk
linked to the SNPSF and, at the same time, to relaunch a financial inclusion initiative through the creation of the
Banque Postale des Comores (BPC).
As part of the deployment of the France-Comoros Development Plan (PDFC), the project aims to support the process
of resolving the SNPSF and creating the BPC. |
