The Fonds Africain de Garantie et de Coopération Economique (African Guarantee and Economic Cooperation Fund) organized an international experience-sharing seminar on April 05, 2023, at the Golden Tulip Hotel in Cotonou, in collaboration with the Central Banks of its 04 intervention currency zones, namely the Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO), the Banque Centrale de Mauritanie (BCM), the Banque des Etats de l’Afrique Centrale (BEAC), and the Banque Nationale du Rwanda (BNR). The seminar was initiated in a spirit of sharing and discussion, with the aim of enabling the Fund to benefit from best governance practices.
Discussions centered on the theme: “Central banks participate in the evaluation of FAGACE’s governance and capacity building”.
For more than 45 years, FAGACE has established various procedures inspired to a large extent by market experience and benchmarks. Within this framework, it has put in place a number of provisions in application of international best practice in the financial markets.
Among the main points addressed during the seminar were the tools developed by the Central Banks and the additional levers for improving FAGACE governance.
The training not only provided participants with the tools they need to develop the various texts and procedures applied to the Fund, but above all enabled them to develop the skills they need to bring FAGACE up to the highest standards.
By raising its standards, FAGACE is embarking on a process of continuous improvement to meet the expectations of the financial market and its banking partners more effectively.
