Monrovia, Liberia– A twelve-man delegation from the West African Monetary Institute (WAMI) and the Ministry of Finance, Republic of Ghana are set to arrive in Liberia for a crucial technical working visit aimed at advancing the establishment of an International Financial Services Centre (IFSC)/ Regional Financial Hub (RFH) in Ghana.
The visit, which will focus on the establishment of an International Financial Services Centre (IFSC)/Regional Financial Hub (RFH), is an integral part of efforts to foster regional financial integration and enhance economic collaboration across West Africa.
The RFH, which will serve as a financial services hub for the Economic Community of West African States (ECOWAS) member countries, is designed to support cross-border financial activities and stimulate regional integration. By offering a robust platform for international and regional finance, the RFH will help attract global financial institutions, facilitate investment flows, and enhance the financial infrastructure of West Africa.
Dr. Olerunsola E. Olowofeso, Director-General of WAMI, will lead the delegation, and on December 16, they are expected to pay a courtesy call on Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan and the Acting Executive Governor of the Central Bank of Liberia, Hon. Henry F. Saamoi.
During this visit, discussions will focus on the proposed RFH framework, partnership opportunities, and the process of developing a comprehensive legal and regulatory framework to support the establishment and operations of the RFH.
The delegation will also explore the formation of a Regional Taskforce to drive the successful implementation of the RFH.
A key highlight of the visit will be a technical discussion with senior experts of the Ministry of Finance and Development Planning, the Central Bank of Liberia, including some official form other public institutions and the private sector on December 17, where stakeholders will engage in deeper discussions about the RFH’s legal and regulatory frameworks and the future of financial services in the region.
In addition to meeting with key stakeholders in Liberia, the delegation will also visit relevant institutions across the West African Monetary Zone (WAMZ) countries, including Ministries of Finance, Central Banks, Capital Market Regulators, Stock Exchanges, Tax Authorities, and other financial institutions to gather insights and collaborate on the RFH’s development.
This landmark initiative is poised to significantly enhance regional economic integration, drive investment, and position Ghana as a global leader in financial services, ultimately benefiting the entire West African region.
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