Honourable Minister of Finance and Economic Planning,
Mr. Chairman of AACB,
Fellow Governors,
African Union Commission representative,
Distinguished guests,
Ladies and gentlemen,
It is a great honor and pleasure for me to welcome you all to the 2008 AACB Symposium. First of all, allow me to express my sincere gratitude to Honourable James MUSONI, Minister of Finance and Economic Planning, for graciously accepting to honour the opening ceremony of the symposium with his presence, on behalf of the Government of the Republic of Rwanda. This is a significant testimony of our leaders’ support and encouragement to our Association.
I would also like to pay particular tribute to our distinguished guests for accepting our invitation. My dear colleagues, Governors of African Central Banks, I would like to thank you for the decision you made last year in Tripoli
to designate the National Bank of Rwanda to host the 2008 annual meeting of the AACB. My sincere gratitude also goes to all the speakers at this symposium for accepting to make the trip to Kigali to share with us their views on the financial integration process of the African Continent.
The theme of the symposium this year is particularly pertinent, in view of the desire expressed by our Heads of State to fast-track African economic integration. As we are all aware, it has been decided to create three pan-African financial institutions, namely; the African Central Bank (ACB), the African Investment Bank (AIB) and the African Monetary Fund (AMF).
The Heads of State have designated the host countries for the three Panafrican Financial Institutions and technical Steering Committee have to be established to work on the establishment of these institutions. This Symposium offers a unique opportunity to African Central banks Governors and other stakeholders in this process to take stock of the progress so far and formulate their advise for a proper functioning of these important financial Institutions.
The objectives and conditions necessary for the establishment and proper functioning of the three African Financial institutions have been repeatedly raised during the AACB Annual Meetings since 2001. Also, the role of the African Central Banks in the process of establishing these institutions has been and still remain an issue to be clarified.
It was on this background that the theme of the 2008 Symposium was chosen during the 31st Meeting of the AACB in Tripoli last year. The most important outcome expected from this Symposium is a broad based consensus on the objectives of the three Panafrican Financial Institutions as well as their implementation frameworks that need to be agreed upon by various stakeholders.
It is on this note that I’d like to conclude my welcoming remarks. I have no doubt, whatsoever, that the deliberations during this symposium and the resolutions that we will make at its conclusion, will enable us to focus on certain issues and to move forward much more effectively.
I thank you for your attention.
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