African regulators and bankers are calling for a rethink of how the continent manages its $400 billion in foreign exchange reserves, much of which sits in Western banks, US Treasuries, and Eurozone debt instruments. At the Africa Financial Summit in Rabat, speakers urged governments to place a portion of these reserves with credible African institutions to strengthen financial sovereignty and deepen local markets. Proponents argue that even a small repatriation could unlock credit and reduce Africa’s reliance on global intermediaries. However, experts stressed that such a move must be backed by strict governance, risk management, and liquidity safeguards. The growing debate reflects a broader push for Africa to retain greater control over its own financial future.
The African Report
