The Central Bank of Egypt (CBE), in cooperation with the Association of African Central Banks (AACB), has officially launched the electronic portal of the African Financial Stability Committee (AFSC), marking a significant milestone in strengthening institutional cooperation among African central banks and advancing knowledge sharing in the field of financial stability across the continent.
The launch reflects the success of the joint efforts that led to the establishment of the African Financial Stability Committee under the umbrella of the AACB, following an initiative by the Central Bank of Egypt under the patronage of H.E. Hassan Abdalla, Governor of the Central Bank of Egypt. The Committee represents the first continent-wide institutional framework dedicated to financial stability from a macroprudential perspective, supporting coordination among African central banks and reinforcing the resilience of financial systems across Africa.
Integrated Digital Platform Supporting Transparency and Technical Cooperation
The newly launched portal serves as a comprehensive digital platform introducing the Committee, its objectives, mandates, governance structure, and member central banks. It also highlights the Committee’s specialized working groups, including the African Financial Stability Report Working Group (AFSR-WG) and the Macroprudential Policy Development and Implementation Working Group (MPDI-WG), outlining their respective roles in supporting financial stability and promoting technical cooperation.
The platform further showcases the vital role of the Committee’s Secretariat in coordinating technical and administrative activities, while overseeing the management and continuous development of the portal’s content.
Platform to Publish Reports, Studies, and the First Continental Financial Stability Assessment
The electronic portal will serve as the official platform for publishing the Committee’s outputs, including reports, research papers, technical studies, and reference materials. Among its most significant publications is the African Financial Stability Report, the first comprehensive continent-wide assessment of financial stability prepared directly by African central banks.
The publication of these materials through the portal is expected to expand their accessibility and strengthen their utilization by central banks, financial institutions, policymakers, and relevant stakeholders at both regional and international levels.
Enhancing Transparency and Monitoring Ongoing Activities
The portal also provides regular updates on the Committee’s meetings, working group activities, and ongoing initiatives, contributing to greater transparency and enabling stakeholders to monitor continental efforts aimed at strengthening financial stability throughout Africa.
Supporting African Financial Integration and Sustainable Economic Growth
The launch of the African Financial Stability Committee’s electronic portal is expected to facilitate the exchange of knowledge, expertise, and best practices among African central banks, while improving coordination in addressing macroprudential risks and financial stability challenges.
This initiative reaffirms the commitment of the Central Bank of Egypt, the Association of African Central Banks, and member central banks to advancing African financial integration.
It further strengthens the Committee’s position as a specialized continental platform for technical cooperation, contributing to the development of more resilient financial systems capable of supporting sustainable economic growth across Africa.
