Egypt’s CBE hosts 2nd annual training for African c. banks

The Central Bank of Egypt (CBE) is hosting a training programme on The Application of Big Data Analysis and Artificial Intelligence and their Impact on Central Banking for the second year in a row.

The programme, held in collaboration with the COMESA Monetary Institute (CMI) from August 18 to 22, 2024, brings together 45 participants from 10 COMESA member states, solidifying Egypt’s role as a leader in African banking integration.

It includes discussions on the application of Big Data Technology and Artificial Intelligence in the Financial and Banking Sectors, with a focus on Central Banks.

Naglaa Nozahie, CBE Governor’s Advisor for African Affairs, highlighted the programme’s importance in equipping African central banks with the knowledge to harness big data and AI for their operations. She emphasised the importance for these tools in navigating the complexities of the global and regional economic landscape.

Meanwhile, Lucas Njoroge, Director of the COMESA Monetary Institute, expressed gratitude to the CBE for its continued support in building the capacity of COMESA’s central banks. He stressed the institute’s readiness for further collaboration with the CBE in the future.

The programme will culminate in a set of recommendations aimed at enhancing the use of big data and AI within COMESA’s central banks. These recommendations will be presented to central bank governors at their annual meeting in Eswatini in November.

The CBE has a strong track record of supporting capacity building in African central banks, having conducted training programmes for COMESA member states for 11 consecutive years.

Attribution: CBE statement

Subediting: Y.Yasser