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Capacity Building Project for the West African Monetary Institute (CAP-WAMI)

  • Project Name:
    Capacity Building Project for the West African Monetary Institute (CAP-WAMI)
    Institution :
    The West African Monetary Institute (WAMI)
    • Core Competence:
      Financial Management and Accountability
    Project Region :
    West & Central Africa
    Country :
    Status :
    Grant Number :
    Grant Amount (USD):
    2 000 000
    Commitment Date:
    Closing Date:

    In December 2010, the ACBF Executive Board approved a grant of US$ 2 million to fund the Capacity Building Project For The West Africa Monetary Institute (CAP-WAMI). The mission of the Institute is to undertake preparatory activities towards the establishment of the West African Central Bank (WACB), and the launching of a common monetary union for the West African Monetary Zone (WAMZ).

    Project Description:

    The overall objective is to contribute to strengthening the capacity of WAMI and its member countries in order to undertake preparatory activities for WAMZ monetary union aimed at enhancing compliance for macroeconomic convergence by 2015. The specific objectives are to: strengthen WAMI’s capacity to improve macroeconomic surveillance and statistical harmonization; and develop the human and institutional capacity within WAMI to achieve optimal performance levels that will assist in laying a solid foundation for the takeoff of the WAMZ institutions.

Thomas Kwesi Quartey

ACBF has been granted the status of a specialized agency because of the potential to transform Africa through capacity development.

H.E. Thomas Kwesi Quartey, Deputy Chairperson, AU Commission
Erastus Mwencha

The recognition of ACBF as the African Union’s Specialized Agency for Capacity Development launches the beginning of a new era for capacity building by ACBF, which will require an appropriate level of political commitment and financial support from all stakeholders.

H.E. Erastus Mwencha, Chair, ACBF Executive Board
Lamin Momodou

The remarkable achievements ACBF has registered over the past 26 years is not by accident in our opinion. They have come through hard work, dedication, commitment, purposeful leadership, support from the member countries as well as productive partnership building.

Mr. Lamin Momodou MANNEH, Director, UNDP Regional Service Centre for Africa
Goodall Gondwe

Africa needs ACBF as much, probably more now, than at the time it was created in 1991.

Hon. Goodall Gondwe, former Chair of the ACBF Board of Governors and Minister of Finance – Malawi
Ken Ofori Atta

Ghana’s partnership with ACBF is a tremendous blessing for us and therefore the opportunity for Ghana to host the 26th ACBF Board of Governors Meeting is something that we treasure.

Hon Ken Ofori Atta, Chair of the ACBF Board of Governors and Minister of Finance - Ghana