Arab Finance: Central Bank of Egypt (CBE) Governor Hassan Abdalla received the Governor of the Central Bank of Eswatini, Phil Mnisi, to discuss expanding cooperation between the two central banks and exchanging expertise across several banking sectors, the CBE stated.

The discussions covered the CBE's currency circulation system and the capabilities of the printing house of the CBE, which prints banknotes for several African countries. The two sides also reviewed Egypt's experience in joining the The Pan-African Payment and Settlement System (PAPSS) and explored ways to support Eswatini's accession to the platform, which is designed to facilitate cross-border payments and trade transactions while reducing costs and processing times.

The meeting also addressed cooperation on the initiative launched by the CBE in partnership with the African Export-Import Bank (Afreximbank) to establish a specialized gold bank for Africa. The initiative aims to strengthen central bank reserves, reduce dependence on refining and trading centers outside the continent, and formalize Africa's gold industry and trading system.

In addition, the two governors discussed Egypt's experience in supporting exports through export guarantee programs, as well as opportunities to cooperate on capacity building and the development of banking professionals.

During the meeting, Abdalla reaffirmed the CBE's commitment to strengthening cooperation with African central banks, in line with Egypt's strategy to deepen relations with African countries and support economic and financial integration across the continent.