DAKAR, May 7– A meeting of the Bureau of the Association of African Central Banks (AACB) opened on Thursday in Dakar, the capital of Senegal, to review Africa’s monetary convergence process, the implementation of the African Monetary Cooperation Program (AMCP), and progress toward the establishment of an African central bank.
The meeting is held at the headquarters of the Central Bank of West African States, under the chairmanship of Yvon Sana Bangui, governor of the Bank of Central African States and current chairman of the AACB.
Officials from central banks representing Africa’s five sub-regions and the African Union Commission attended the conference.
Participants are expected to examine issues related to macroeconomic convergence and financial integration in Africa, including the 2025 progress report on the AMCP and updates on the establishment of the African Monetary Institute, a transitional body tasked with preparing for the future African central bank.
Discussions will also cover cross-border banking supervision, payment system integration, and cooperation with the Pan-African Payment and Settlement System, which is intended to facilitate intra-African trade and reduce transfer costs across the continent. (Namibia Daily News / Xinhua)
