Africa should consolidate financial institutions to speed development — Akufo-Addo

President Nana Addo Dankwa Akufo-Addo emphasized the need to consolidate Africa’s fragmented financial institutions to accelerate development.

Speaking at the Sixth Mid-Year Coordination Meeting of the African Union (AU) in Accra, he advocated for a cohesive financial framework to better allocate resources.

The meeting aims to harmonize AU policies with Regional Economic Communities (RECs) and deepen integration.

President Akufo-Addo stressed that consolidation would improve resource mobilization and streamline efforts in education, infrastructure, healthcare, and technology.

He called for political commitment to establish the African Central Bank, African Investment Bank, and African Monetary Fund, essential for financial stability and economic integration.