The headquarters of the Central Bank of West African States (BCEAO) in Dakar served as the framework for the first ordinary meeting for the year 2024. The activities took place on Thursday, March 7.

The president of the Association of African Central Banks (ABCA) reviewed the activities carried out over the past year. Indeed, he said he was “happy to announce that 18 of the 22 decisions have been implemented”. According to him, the number of countries that met the convergence criteria stood at 11 against 06 in 2022. Denny H. Kalyalya says that this is “encouraging given the many global, regional and national challenges.” These challenges include uncertainties related to global growth, persistent and frequent adverse shocks related to climate change as well as persistent and growing geopolitical tensions and public debt

The President of ABCA also mentioned the progress they have made in implementing a pan-African payment system infrastructure and also in building capacity in cross-border banking supervision, Basel regulation and crisis management, banking resolution and FinTech.