Final report of the meeting of the Central African sub-regional committee held at Kinshasa from 8 to 11 September 1970

Distr*

LIMITED

e/cn,,14/4Ma/ca/i

22 June 1971 ENGLISH ' ■ Original s FRENCH

ECONOMIC COMMSSION FOR AFRICA Second Regular Meeting

of the Association of African Central Banks

Rabat. 13 - ltf September 1971

FINAL REPORT OF THE ..MEETING OF THE CENTRAL AFRICAN

SUB-REGIONAL COMMITTEE HELD AT KINSHASA FROM 8 TO 11 SEPTEMBER .1970

1. The Central African,'Sub-regional Committee of the Association of African Central Banks, convened, by the Governor of the.Banque nationale du Congo, Actingi Chairman, met at Kinshasa from. S to 11 September 19-70.

Recalling.that the meeting had been convened in accordance uith the Association's Statutes, the Governor of the Banque .nationale du Congo summarized thfe agenda in two main iterns 1-

(a) Consideration of document. E/CN,14/AMA/20/W.l of 10 September I969

"Suggested General Guidelines.on Payments Arrangements in Africa",and

(b) Consideration of various problems, and particularly, that of

training for key personnel of African central.banks and that of 'the exchange of information and experiences in credit matters.

2. ' (a) After considering document ;s/CN.14/AMA/2OAtev.,l of 10 September 1969 ,drajt-m ■ up by the Economic Commission for Africa, "ohe participants

agreed on the desirability of intra-African trade,

1 ■

It-was, however, pointed out that within the Central African sub-

regjion there was ,no payments problem, because the Democratic .

Republic of Congo freely accepted the CFA franc in payments and freely used the same currency or any other convertible currency for! settling its accounts with the States of equatorial Africa

and! Cameroon..., The Central African sub-region had therefore pas|sed the stage of payments agreements, .

Fropi the statistics produced by ECA it was noted that the volume of lintra-African trade was very low generally,, It was therefore thought that the real causes of that situation^ which were not ., monetary, should be sought, and an attempt be made to remedy them.

(c)

M71-15O5

Page 2

3O Four main causes were considered to be behind the low volume of intra-

African trade: ." ■ v -■ ■ ■ ■•" ' ' ■ ^, ■

(a) A lack of complementarity between African economies, which produced •_!

in the main raw materials for export to the industrialized countries,. i

(b) Insufficiency of information on the .economic activities' of. each-- j

country* . ■ . ■ . ■ ■ v :' ■ j

(c) Insufficiency or lack of direct communications 'between. African I

countries,, ' " "

(d) Insufficiency or lack of co-ordination in economic policy at sub- ".

regional levels . ;

it was through this that several countries were setting up the same industries ■.

without external markets. ' ■ " . "

4# For every one of the causes listed remedies were suggested with the ■

object of increasing the volume of intra-African trade: ■

(a) To avoid manufacturing the same products, co-ordination in development ■ ■

■ efforts must be. achieved at sub-regional' level, and. countries should

■therefore consult together fairly frequently. ' , ■ ; ' ' , ., ' !

(b) The problem of information could be solved by developing contacts j between chambers of commerce in the African countries, more trade [,

. - missions and increased advertising of their productions,., by the ;|

organization of trade fairs with, other African countries' and by $ increased intra-African tourism through more flexible entry fj

formalities., . . ■ $

■■■ ■ ■ ■■ ■ ■ ■" - : -; ■ te

...■■■; ' , . ■ . ■ ■ . ■ " ■ -4

(c) Improvement in the means of communication ..would help trade flows '^

in AfricaD ■ ' . if

. ■ ■ ■ ■ ■...,.,-.* !J

(d) Many obstacles to increased trade could be removed/ if African ' |'j

the fight against the dumping practised by developed countries- ||

5O Participants exchanged'views on their experiences in; the training of key jjj

staff for the central banks .and in credit policies,, ■ : .' " ''.

'. " ""' ; -:':' ' ' ■ '' !' '-i^

(a) 'On the subject of training for key staff, .the usefulness of the -. |ij

training cour.se to be organized "by the Association at Lagos this . , -.|

year, with the assistance of 'the"member'countries'1 was recognised„ ;|

Participants also explained the':methods foil'owed by t'h'e'ir '.$

respective banks for recruiting key personnel and for training "}

.executive officers- ' ' " ' ;■ ; "''" ' ■■ !|

'■'■'■ .-■■■■ ■ ; ■ . ■ .|

e/cn.m/ama/ca/i

; ■ ■ ' Page 3

(b) Regarding credit policies, participants reviewed methods of granting credit in their respective ..countries, more particularly agricultural credits, credits to"nationals and medium-term credits, 6w They then noted with pleasure that the regular exchange of documentation among the central banks was provided for.

7* It agreed that the next .meeting should be held in Cameroon at the1 beginning.of September 1971- .

7 September 1970

8 September 1970

3-30 p.m.

9 September 1970

10. a.m.

12 noon :

■ 3*30 p.m.

10 September 1970 9 a.m.

12 noon 3 p.m.

11 September 1970

9 a.m.

PROGRAMME) OF WORK" ■

Arrival of representatives of- the Banque centrale des Stats de l'Africpie equatoriale et-du Cameroun ■

Opening session ■ '

Adoption of the agenda

Discussion.of document E/CNol4/AMA/20/Rev,l of

10 September 1969■ "Suggested General Guidelines on Payments Arrangements in Africa"

Continuation of work Suspension of meeting

Various problems^ (a)

( (c)

Exchange of information Staff training-.

General problems of common interest

Various problems: Credit problems Suspension of meeting

Tour of the town

Adoption of final report

AGENDA

1* Opening of the session 2, Adoption of the agenda

3» Consideration of the agenda items

4* Consideration and adoption of the final report on the session

E/CH.1

Page'v.4 /ca/i

■ .. .■.■■■•,■■ ■' ' ■ LISO?. OF PARTICIPANTS ." ." r-. . . . ..■■■";■■■.-.' "■

For i&e Bancfue ben.trale des Etats de I'Africfue". eguatoriale-.et ,du .Camefo.un1- r'f..

.•Hr. .Joudiou, Directeur. general adjoint' ... ■ .■ ,; ..'■ ; ■■ . :.;'.•>-. ■:. ' ■■.■■■

^Mro Sackj"; .. . Directeur de l':Agence .de Dpuala: . -..■ - ,: ■ :--.v."-" ;■■ :"/

For the Banque nationale du Congo: ■ ' "-.' ■ '■■ .:■..,;:-.,, '''•'■ ■"'*':

,'. TIra ■ J« Emohy, ■ " Directeur du Departement du. credit ,. _:.;;;"_i.;;:'>;.^; ___• ■■. ■ .•■_;■■; -.■

■ .■' -l(Er. A-1 Mawakani, : Sous-Directeur, respoiisable .clu Depa'rtemen1^. desuetudes' - :T-:Ir« R. .Bieme,'" Sous-pirecteur, responsable adjoint 'd^Departement ■"

".,..■ ■ ■' ':' . etranger" ...''■ ■.■,.■ „',_.'■;.'[ ■■/ ,r -■"/■■/' -

'. I'lr. J.' Tshishimbi,Chef de service principal, responsable: ■■du-Gabi-net" du

.' ' ■■■ ■ Gouverneur ■ -. ■ '■" . " _ , ■ ; ■'"-'" ■ .-..-.

Mro T. Makaya, Chef'de service principal, responsabl-e .adjoint, du .Departement du credit ■ :■ ;'';■ .-■";..■ ,■-:•:■;>■■,■ \S!;-;

I-Ir. .B* .Kilolo, -Chef "de service^principal, respon^able"adjoint'du;,:'.;

;■ ■ ' ■' . ■ . Departement du Secretaire general ''_;■:■■.:.■;"-':•'' -,," ■ -,'1 '..-■.

Hr. So Diutombo, - Chef de .service au Departement des etudes-. " :;"> ':tt[;.

]'lro G- Lukomo, -Chef de ' service, au" Departement. etranger- "-:■■.' ■/■'-.■■ ■