• Yvon Sana Bangui elected president of the Association of African Central Banks
• One-year term includes steering governors’ meetings and advancing monetary cooperation
• Meeting in Yaoundé reviews progress toward Africa’s monetary convergence goals

Yvon Sana Bangui, the governor of the Bank of Central African States, has been elected president of the Association of African Central Banks for a one-year term. His election was announced on November 28 at the close of the association’s 47th annual meetings in Yaoundé. He succeeds Priscilla Muthoora Thakoor, the governor of the Bank of Mauritius.

As president, Mr. Sana Bangui will chair the meetings of the board of governors and lead the association’s bureau. His mandate includes coordinating the group’s activities, overseeing technical work, strengthening cooperation among member banks, and supporting efforts to deepen monetary integration across the continent.

This year’s meetings focused on the African Monetary Cooperation Program, an initiative aimed at harmonizing monetary frameworks, aligning economic policies, and eventually establishing shared financial institutions. Governors reviewed the program’s convergence criteria, which serve as benchmarks for fiscal stability and policy alignment.

By 2024, twelve of the fifty-three central banks had met the program’s five primary convergence targets, which cover fiscal discipline, debt management, foreign exchange reserves, inflation, and exchange-rate stability. Three banks met the three secondary criteria related to domestic revenue performance, public spending structure, and the quality of economic statistics.

The board urged member institutions to carry out their road maps for aligning monetary policies. Progress will be reviewed at the bureau’s next meeting in March 2026.

The association traces its origins to a meeting of African central bank governors held in Addis Ababa in 1965. It was created to promote monetary, banking, and financial cooperation among African nations and oversees the cooperation program whose long-term vision is the creation of a single African currency, a continental central bank, and an African Monetary Fund.

Chamberline Moko