Egyptian Minister of Finance Mohamed Maeet on Tuesday called for coordinating African stances and boosting the mechanisms of co-operation and integration towards achieving continental integration, amid the grave international crises that badly affected the African economies and imposed massive pressures on their budget.
Maeet urged rapid joint action to introduce effective African strategies aiming at ensuring global economic risk resilience through setting up hedge funds.
The minister was addressing a session on financial integration in Africa on the sidelines of his participation in the Afreximbank Annual Meetings 2023, currently taking place in Ghana.
“We are looking forward to an “African financial structure” more capable of dealing with flexible mechanisms with shocks, making our African financial institutions more powerful and integrated in addressing the challenges of financing development during the coming period, especially amid need of innovative African financing tools that contribute to reducing the cost of investing in continental infrastructure, in a way that contributes to enhancing the size of intra- African trade,” Maeet said.
