West African countries to beef up banking
A cross-section of experts from across the banking sector, insurance and stock markets in the West Africa sub-region will hold a two-day meeting in Accra, Ghana, this week.
Delegates are expected to present a coordinated roadmap for increasing the competitiveness of the financial sector in the sub-region.
The workshop on Friday and Saturday is a follow-up to the one held in November last year and will be attended by officials of the trade, industry and finance ministries and central banks of West African countries.
A statement from the organisers, the Ghana Association of Bankers and West African Bankers Association, Nigerian branch, says the meeting will also review regional, national, government, donor and private sector initiatives.
Priorities for recommendations made during the first session will also be established.
During the first meeting, most participants were of the view that a first step to rapid integration of the financial sector was for the governments to bury their sentiments about sovereignty and act for the collective good of the citizens in the sub-region.
An action plan developed during the first workshop sought ways to remove hurdles, broaden the range of financial instruments and promote the harmonization of the financial sector within the sub-region.
The project is supported by the African, Caribbean and Pacific (ACP) Business Climate Facility (BizClim), an ACP-European Union (EU) joint initiative funded by the European Development Fund.
Article published courtesy of BuaNews
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