The AACB is an organization that works to promote monetary cooperation, financial stability, and policy coordination across its members, consisting of 40 African nations.
The AFSC acts as a framework that supports knowledge sharing and exchange of expertise, focusing on coordination and enhancing cooperation between African central banks to address potential risks affecting financial systems.
The digital platform will introduce the AFSC, alongside its objectives, mandates and organizational structure, providing information on regular meetings and ongoing initiatives, as per the committee's goal of developing resilient financial systems for sustainable economic growth across Africa and advancing technical cooperation among the central banks.
This aligns with the CBE’s plan to support efforts to expand cooperation and capacity-building with African central banks to advance banking integration.
The CBE has been sharing its expertise with other central banks, such as the Bank of Ghana and the Bank of Tanzania, on digital transformation, artificial intelligence (AI), data governance, and cybersecurity, as well as responding to crises and emergencies, managing payment and cash systems, and banking supervision.
While Egypt has been pushing to promote trade, strengthen reserve diversification, and support institutional development across the continent.
Moreover, this launch aims to enhance transparency and expand access to the AFSC’s work, optimizing its usage by central banks, financial institutions, and relevant stakeholders regionally and gobally.
Escalating geopolitical tensions and disrupted global trade routes have caused an overspill on the continent’s economy, with North Africa’s economic growth is expected to slow to 4.0 percent in 2026, down from 4.4 percent in 2025.
While Egypt’s economy is and is expected to remain resilient, the African Development Bank is expecting the country’s growth to record around 4.3 percent in FY2026/2027.
Additionally, the portal will also show the committee’s member central banks and working groups that work to support the committee’s goals. The groups include the Macroprudential Policy Development and Implementation Working Group (MPDI-WG) and the African Financial Stability Report Working Group (AFSR-WG), which releases the committee’s African Financial Stability Report, the first comprehensive assessment of financial stability across Africa prepared directly by African central banks.
The report will be published on the portal, as will working groups’ reports, studies, technical papers, and reference materials.
Coordination between the AFSC and the working groups will be managed through the committee's Secretariat. It will support technical and administrative coordination and manage and maintain the portal's content.
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