Ambitious plans for an African Central Bank are back on the table – but deep economic divides, politics and hard lessons from Europe stand in the way.
A single African central bank by 2026 sounds bold, even visionary. But for a continent of 54 economies at vastly different stages of development, the question is whether ambition has outrun reality.
That was the underlying tension at a major summit in Yaoundé, where 41 African central bank governors met to discuss climate-related financial risks and renewed momentum towards deeper monetary integration. The talks re-energised plans under the African Monetary Institute (AMI), the body mandated by the African Union to pave the way for an eventual African Central Bank.
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