Central Bank of Egypt Launches the African Financial Stability Committee Electronic Portal in Cooperation with «AACB»
The Central Bank of Egypt (CBE), in cooperation with the Association of African Central Banks (AACB), launched the electronic portal of the African Financial Stability Committee (AFSC), as part of the ongoing efforts to strengthen institutional cooperation among African central banks, while anchoring the mechanisms for sharing knowledge and expertise in the field of financial stability across the continent.
The launch of the portal reflects the success of the joint efforts that initially led to the establishment of the AFSC under the umbrella of the AACB, upon an initiative by the CBE, and under the auspices of H.E. Mr. Hassan Abdalla – Governor of the CBE. The Committee serves as the first continental institutional framework dedicated to financial stability from a macroprudential perspective, supporting the coordination and cooperation among African central banks, and enhancing the stability of financial systems across the continent.
The AFSC portal represents an important institutional milestone in the Committee’s journey, as it provides an integrated digital platform that introduces the AFSC, its objectives, mandates, organizational structure, and member central banks. It also highlights its working groups - including the African Financial Stability Report Working Group (AFSR-WG) and the Macroprudential Policy Development and Implementation Working Group (MPDI-WG) - and their respective roles in supporting the Committee’s objectives and advancing technical cooperation among African central banks. The portal also highlights the pivotal role of the Committee's Secretariat in supporting technical and administrative coordination for the Committee and its working groups, as well as managing and maintaining the portal's content.
The portal serves as a key platform for publishing the outputs of the Committee and its working groups, including reports, studies, technical papers, and reference materials. On top of these is the African Financial Stability Report, which constitutes the first comprehensive continental assessment of financial stability in Africa prepared directly by African central banks. This is expected to broaden the reach of these outputs and enhance their use by central banks, financial institutions, and relevant stakeholders at both regional and global levels.
The portal also provides information on the regular meetings of the Committee and its working groups, as well as key ongoing activities and initiatives. This will enhance the transparency of the Committee’s work and enable interested stakeholders and observers to follow efforts aimed at promoting financial stability across the African continent.
The AFSC portal is expected to support knowledge sharing and the exchange of best practices among African central banks, while enhancing coordination and cooperation in addressing risks and challenges that may affect financial stability from a macroprudential perspective across the continent.
The launch of this portal reaffirms the commitment of the CBE, together with the AACB and member central banks, to continuously support efforts toward African financial integration. It solidifies the AFSC’s role as a specialized continental platform for enhancing technical cooperation in the field of financial stability, contributing to the development of more resilient financial systems that are better positioned to support sustainable economic growth across Africa.
