The AFRACA Executive Committee, EXCOM continued to exercise its oversight role to ensure proper governance of the Association. As has been the norm, the EXCOM meets twice every year. It was full house as the Central Bank of Kenya hosted the 88th AFRACA EXCOM meeting in Nairobi with all sub-regional chairpersons represented.

In her opening statement, the Chairperson made note of the expanded membership of EXCOM which now includes representatives from smaller institutions under the new governing principle that seeks to promote inclusivity in the Executive. Deliberations during the meeting covered a wide range of issues. The issue of bank closures and collapse in a post pandemic era was a major concern especially for Central Bank and other regulatory institutions. Notwithstanding political instability in some member countries that has destabilized financial markets.  Climate change is also becoming more pronounced, increasing the risk profile in Agriculture.

The EXCOM recognized initial efforts of the Secretariat in addressing the issue and welcomed the prioritization of an ESG-focused agenda during the upcoming General Assembly. The Banque Centrale du Congo, also present during the meeting, reaffirmed their commitment to host the event. The EXCOM was also optimistic of findings from AFRACA’s Impact study commissioned during the start of their term in office. Results and final report of the study will be shared before the Assembly.

Photo: AFRACA Chairperson and Deputy Governor, Reserve Bank of Zimbabwe, Dr. Jesimen Chipika (Centre) with AFRACA Executive Committee Members during the 88th EXCOM meeting hosted by Central Bank of Kenya at the Kenya School of Monetary Studies, Nairobi, Kenya