29.4 C
City of Banjul
Saturday, September 24, 2022

Gambia hosts conference of African Central Bank Governors

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By Tabora Bojang

The 44th ordinary convergence of the Association of African Central Banks, AACB, is being hosted by the Central Bank of the Gambia here in Banjul.

The host, CBG, will also take over the rotating chairmanship of the AACB from Congo.

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The Banjul convergence is running from July 31st to August 5th at the Sir Dawda Jawara International Conference Centre where the formal opening ceremony will be performed by President Barrow on Thursday.

Some 41 central bank governors from across the continent are expected to take part in the confab which has the theme; “Digital Innovations and the Future of the Financial Sector; Opportunities and Challenges for Central Bank Digital Currencies”. The meeting will discuss avenues for the realisation of a single currency and common central bank in Africa, digital innovations in the financial sector, their likely impacts and implications on financial stability and fiscal policies and how they can be mitigated.

Ebrima Wadda, the director of research at the Central Bank of The Gambia, said the confab will be preceded by meetings of the AACB technical committees and the bureau of governors meeting and a symposium of governors which is expected to be graced by President Barrow on Thursday.

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Wadda revealed that the convergence will also be characterised by a series of sessions chaired by respective experts touching on issues like digital innovations and the challenges they posed to apex banks in the regulatory mandates across Africa.

The CBG director of banking and payment systems, Karamo Jawara, said the convergence will further promote cooperation in the monetary, banking and financial sphere across Africa and take stock of global financial challenges in bid to address financial sector challenges confronting the continent. 

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