By: Nana
Appiah Acquaye
The African Union has
advanced preparations for the operationalisation of the African Monetary
Institute (AMI), with key progress recorded during the 2026 Association of
African Central Banks Annual Meetings held in Nairobi, Kenya.
An African Union delegation
led by H.E. Mrs. Francisca Tatchouop Belobe, Commissioner for Economic
Development, Trade, Tourism, Industry and Minerals, participated in the
meetings from September 13 to 18, where the progress of the AMI was presented.
The developments follow the
adoption of the AMI Statute by the African Union Assembly in February 2026,
marking a key milestone in efforts towards greater regional monetary
integration.
During the meetings, the
Commissioner presented updates on the progress being made towards
operationalising the institute, including work on its operational documents and
guidelines for the Interim Secretariat.
The operational documents
and Interim Secretariat guidelines have been considered and are expected to be
finalised and transmitted to the AMI Board for consideration and approval
within 30 days.
Preparations are also
underway for the Host Country Agreement with Nigeria, which is expected to host
the AMI Interim Secretariat.
The nominated AMI Board has
meanwhile convened its first introductory meeting and selected the Governor of
the Bank of Central African States (BEAC) as Interim Chairperson.
The establishment of the AMI
Board represents another step towards launching the institute’s Interim
Secretariat before the end of 2026.
The African Union said the
ongoing work forms part of broader efforts to advance regional monetary
integration and strengthen the institutional foundations required to support
closer monetary cooperation across the continent.
