African central bank governors convened in Dakar on Friday, May 8, 2026, to demand a coordinated regional and international regulatory framework for crypto assets and cyber threats.
During the third international conference hosted by the Central Bank of West African States (BCEAO), officials argued that the highly globalized nature of digital finance makes unilateral national regulation impossible. Leaders from the Bank of Mozambique and the Central Bank of São Tomé and Príncipe emphasized that even advanced global economies struggle to manage the complexities of decentralized finance alone, necessitating a unified front between central banks, private fintech sectors, and cybersecurity agencies.
The consensus among the governors, including representatives from the Bank of Central African States (BEAC), was that while digital innovation offers new opportunities, it cannot replace the essential role of central banks in safeguarding monetary stability and protecting public savings. BCEAO Governor Dr. Jean-Claude Kassi Brou highlighted that regional dialogue is currently focused on harmonizing regulatory approaches to create a shared vision for Africa’s financial transformation. The officials concluded that addressing crypto assets is no longer just a technical challenge but a matter of national governance, consumer protection, and economic equality, requiring immediate investment in the technical capacity of African regulators to anticipate emerging risks.
ARD/ET/Sf/lb/abj/APA