Governors of central banks in Africa gathered in the Ghanaian capital on Monday for the maiden Pan-African Central Bank Governors’ Conference to discuss ways of preserving credibility, independence, and resilience in a rapidly changing global environment.
The two-day high-level conference under the theme “Central Bank Governance: Leadership, Credibility, and Resilience in African Central Banking” forms part of the long-standing Bank of Ghana–Bank of England Technical Cooperation Program.
Opening the conference, Bank of Ghana Governor Johnson Asiama urged his colleague African central bank governors to see themselves not only as governors, but also as custodians of public trust, heading the monetary institutions that play critical roles in maintaining confidence in national economies.
Asiama stressed the significance of coordination between monetary and fiscal authorities, robust reserve management, and response mechanisms to weather external shocks and undergird their economies.
“As we stand at a reflection point, economic growth is returning in many of our countries. Beneath this growth across the continent, however, lie our fragilities. We still have high borrowing costs to contend with. Our stability is real, but it is still being tested,” the Ghanaian official noted.
The Pan-African Central Bank Governors’ Conference provides a rare platform for current and former African governors and deputy governors to engage in candid, off-record discussions on how central banks can preserve credibility, independence, and resilience in a rapidly changing global environment, said a statement issued ahead of the conference.