In a historic move to strengthen regional collaboration, the Bank of Ghana and the Central Bank of Liberia have signed a Memorandum of Understanding (MoU) to establish a Strategic Partnership for Capacity Building and Technical Assistance.
The agreement, formalized at a signing ceremony in Accra, aims to enhance institutional development, knowledge transfer, and technical cooperation between the two central banks.
The MoU outlines cooperation across a wide range of critical central banking functions, including macroeconomic forecasting, monetary policy analysis, reserve management, gold purchases, and on-site and off-site supervision of commercial banks.
It also encompasses contemporary areas of focus such as anti-money laundering and combating the financing of terrorism (AML/CFT), central bank communication strategies, digital currencies, cryptocurrency, currency design and management, and the application of artificial intelligence to core central banking activities.
Speaking at the ceremony, Mrs. Matilda Asante-Asiedu, Second Deputy Governor of the Bank of Ghana, who represented Governor Dr. Johnson Pandit Asiama, described the MoU as a landmark step in deepening the relationship between the two institutions.
“This partnership reflects the principle that our collective strength far exceeds our individual capabilities.
By formalizing our collaboration, we are creating a structured framework for knowledge sharing, technical assistance, and institutional development that will benefit both our central banks,” Mrs. Asante-Asiedu said.
She added that the agreement builds on years of constructive engagement, mutual respect, and shared aspirations between the two institutions, emphasizing the importance of collaboration in navigating dynamic regional and global economic challenges.
The MoU was signed on behalf of Liberia by Executive Governor Henry F. Saamoi of the Central Bank of Liberia.
Governor Saamoi extended his best wishes to all participants and underscored the historic significance of the partnership, highlighting the mutual benefits in technical and operational support for both nations.
“This agreement represents our collective commitment to advancing capacity-building initiatives, delivering effective technical assistance, and supporting each other in key central banking operations. We look forward to leveraging this collaboration to strengthen our institutions and promote shared economic prosperity,” he said.
The signing ceremony brought together senior officials from both central banks and signaled a new era of regional cooperation. Observers note that the MoU positions Ghana and Liberia as leaders in the West African central banking community, particularly in areas of innovation, digital finance, and operational excellence.
As both nations look to modernize and expand their financial systems, the partnership is expected to serve as a model for cross-border collaboration, ensuring both central banks are equipped to address evolving economic, technological, and regulatory challenges.
