Governor of the Central Bank of Egypt (CBE) Hassan Abdalla received the Governor of the Central Bank of the Kingdom of Eswatini, Phil Mnisi, on Monday to discuss prospects for strengthening bilateral co-operation and exchanging expertise across a range of banking sectors during the latter’s official visit to Egypt.
At the outset of the meeting, Abdalla welcomed Dr Mnisi’s visit, reaffirming the CBE’s commitment to expanding co-operation with African counterparts through the exchange of expertise and the implementation of joint initiatives aimed at promoting sustainable financial development across the continent.
The meeting reflected the CBE’s commitment to deepening co-operation with African central banks, in line with Egypt’s strategy of strengthening ties with African nations and supporting greater economic and financial integration across the continent.
The discussions covered several areas of mutual interest, including the CBE’s advanced currency circulation system and the capabilities of the Egyptian Currency Printing House, which has established itself as a leading institution in Africa and the Middle East and currently prints banknotes for several African countries.
The two governors also reviewed Egypt’s experience of joining the African Payment and Settlement System (APSS), exploring ways to support Eswatini’s accession to the platform.
The system is designed to facilitate cross-border payments and trade settlements across Africa while reducing both transaction costs and processing times.
The meeting also examined opportunities for co-operation under the initiative launched by the CBE in partnership with the African Export-Import Bank to establish a specialised African Gold Bank.
The initiative aims to strengthen central bank reserves, reduce dependence on gold refining and trading centres outside the continent, and support the formalisation and development of Africa’s gold industry and trading ecosystem.
In addition, the two sides reviewed Egypt’s experience in supporting exports through export guarantee schemes and programmes, while exploring opportunities for collaboration in capacity building, professional training and the development of banking personnel.
