COMESA Governors of Central Banks Meet in Egypt

The Annual meeting of Central Bank Governors from COMESA Member States took place in Egypt on 24 November 2022 with deliberations focusing on the activities of the COMESA Monetary Institute (CMI) and COMESA Clearing House (CCH). The two Institutions are responsible for monetary and financial integration of COMESA member countries.

Governors from Burundi, Djibouti, Egypt, Eswatini, Malawi, Sudan, Uganda, Zambia, and Zimbabwe attended the meeting. This was the 26th meeting of the COMESA Committee of Governors and was chaired by the Governor, Central Bank of Egypt, Mr. Hassan Abdalla.

In his statement, Mr. Abdalla underlined the responsibility of the Central Banks towards efforts to rescue economies from recession and ensuring recovery and sustainable growth, in the aftermath of the COVID-19 pandemic and climate change.

COMESA Secretary General, Ms. Chileshe Mpundu Kapwepwe, in a statement read on her behalf by Mr. Mahmood Mansoor, the Executive Secretary of the COMESA Clearing House, noted that greater monetary and financial stability will facilitate the economic integration and provide sustained economic development.

The meeting agreed to host the Annual Governors Symposium in Zimbabwe in 2023 to discuss; the future of money, Central Banks Digital Currency and other virtual assets and Central Banks in the era of climate change. The Governor of the Reserve Bank of Zimbabwe was elected chair of the Committee of Governors for 2023.

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