Tunisian Central Bank Governor Fathi Zouher Nouri has urged the creation of an African monetary union to bolster economic resilience and stability across the continent. In a statement, the Central Bank said Nouri made the call during the 48th annual meetings of the Association of African Central Banks. He emphasized that this union would be a crucial step towards achieving a sustainable monetary union in Africa. Nouri's proposal aims to strengthen the collective ability of African economies to withstand economic shocks.
The 48th annual meetings of the Association of African Central Banks took place in Nairobi, Kenya, from September 16 to 18, 2026. The Kenyan Central Bank hosted the event, which marked its 60th anniversary. The meetings brought together central bank governors, deputy governors, and senior government officials from across Africa, as well as representatives from regional and international monetary organizations. Nouri participated in the meetings as the president of the North African sub-region within the Association of African Central Banks.
During the meetings, Nouri called for an African monetary union that would promote collective resilience, stability, and cooperation among African economies. He noted that this union would be a necessary step towards deeper economic integration and a more advanced level of monetary cooperation. The meetings focused on the Association's activities, prospects for enhancing monetary and financial cooperation, and economic integration in Africa. Discussions centered on implementing the African monetary cooperation program and the progress of establishing the African Monetary Institute.
The Association of African Central Banks' meetings also covered the work of various working groups and the development of cooperation between African central banks and their partners. The 48th annual meetings marked a significant milestone in the establishment of the African Monetary Institute. Nouri was elected a member of the Institute's board of directors following the approval of the board's composition by the Association's council of governors.
As a member of the African Monetary Institute's board of directors, Nouri participated in the inaugural meeting of the board, which took place after the conclusion of the 48th annual meetings. The Institute's establishment is a key step towards achieving monetary integration in Africa. The meetings provided a platform for central bank governors and other stakeholders to discuss issues related to monetary cooperation and economic integration.
The Association of African Central Banks brings together central banks from across the continent to promote cooperation and coordination on monetary and financial issues. The Association's activities aim to enhance economic stability and integration in Africa. Nouri's call for an African monetary union aligns with the Association's objectives and reflects the need for deeper economic cooperation and integration in Africa.
The establishment of an African monetary union would require significant progress on monetary cooperation and integration. The proposal is part of a broader effort to strengthen economic resilience and stability in Africa. The African Monetary Institute will play a crucial role in promoting monetary cooperation and integration.
Key points
- Tunisian Central Bank Governor Fathi Zouher Nouri calls for an African monetary union to enhance economic resilience and stability.
