At the Alamein–Africa Business Forum, Central Bank of Egypt Governor Hassan Abdalla called for measurable commitments to deepen African financial integration, including directing 10% of African banking liquidity and 5% of international reserves toward investment within the continent. He also advocated stronger financial markets, wider use of African currencies in intraregional trade and more predictable economic policies to attract capital and support sustainable growth. Abdalla proposed gradually settling part of African trade in local currencies, strengthening banking systems and creating an African credit rating agency to improve access to financing. He also urged countries to reduce cross-border barriers and customs clearance times, while retaining more African capital within the continent rather than routing it through developed markets at higher cost. With about 12 million young people entering Africa’s labor market each year but only about 3 million formal jobs being created, he emphasized education, skills and employment as central policy priorities. As evidence of Egypt’s approach, Abdalla cited at least 15 cooperation memorandums signed with African central banks in areas including training and governance. Egyptian banks are also expanding their African presence through credit lines and financing facilities intended to increase liquidity and investment.
Central Bank of Egypt governor calls for 10% of African bank liquidity and 5% of reserves to be invested in Africa
Central Bank of Egypt Governor Hassan Abdalla called for 10% of African banking liquidity and 5% of international reserves to be invested within Africa. He also advocated local currency trade settlement, an African credit rating agency and lower cross-border barriers to deepen financial integration and improve access to capital.