Africa must work together to grow its economies, create jobs, and protect its future from climate risks, Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said.
Speaking at the Egypt 30by30 Programme hosted by the Central Bank of Egypt and the International Finance Corporation (IFC), Cardoso painted a picture of both urgency and opportunity for the continent.
He said Africa faces the challenge of lifting millions out of poverty while industrialising and adapting to climate change — but also holds the resources and youthful energy to turn that challenge into progress.
Cardoso described the initiative as a shared commitment among African financial leaders to build economies that are resilient, environmentally conscious, and capable of long-term sustainability.
Highlighting Nigeria’s approach, Cardoso said ongoing reforms aimed at discipline and transparency are strengthening economic fundamentals and restoring confidence in the financial system.
He stressed that trust — built through credible policies and accountable institutions — remains essential for stability.
“To build resilient financial systems, we must anchor our economies on trustworthy institutions, credible policies, transparent markets, and risk-aware innovation,” he said.
Cardoso also drew attention to the financial consequences of climate change, warning that environmental risks are already influencing inflation, food security, insurance markets, and national borrowing costs. Although Africa contributes the least to global emissions, he noted, it often bears the heaviest consequences.
Yet he urged optimism, pointing to the continent’s vast renewable energy potential, biodiversity, and youthful population as assets capable of reshaping its economic trajectory.
He called for deeper cooperation across borders, emphasising that collective action — rather than isolated national efforts — would allow Africa to build inclusive financial systems that can withstand shocks and prosper in the decades ahead.
The engagement underscored a clear message: Africa’s path forward lies in balancing stability with sustainability, ensuring that economic progress supports both people and the planet.
