The Central Bank of Egypt (CBE) is organizing for the second consecutive year a training program on “Application of Big Data Analytics and Artificial Intelligence and their Impact on Central Banking”, in cooperation with the COMESA Monetary Institute (CMI).
The programme, which runs from 18 to 22 August, is part of the CBE’s ongoing efforts to support banking integration among African central banks.
Forty-five participants representing 10 central banks from COMESA Member States, as well as a delegation from the CMI, are participating in the programme. The training sessions will focus on the application of Big Data technology and Artificial Intelligence in the financial and banking sectors, with a particular focus on central banks.
Naglaa Nozahie, Advisor to the Governor on African Affairs, highlighted the importance of the programme theme to sensitise African central banks on the importance of integrating big data analytics and artificial intelligence into their key functions, particularly in light of ongoing global and regional developments.
“The Central Bank of Egypt is keen to continue its efforts to support capacity building of African central bank employees, especially as the CBE has been providing training programmes to central bank employees of COMESA member states for the 11th consecutive year,” Nozahie said.
Lucas Njoroge, Director of the COMESA Monetary Institute, expressed gratitude to the CBE for its continued contribution to strengthening the capacity of COMESA central banks.
“The Institute looks forward to further collaborations with the CBE in the years to come,” Njoroge said.
During the training, speakers from the CBE Information Technology and Markets sectors provided input. Participants were divided into working groups to discuss current challenges and potential solutions, proposing a practical exercise in applying big data analytics and artificial intelligence.
At the end of the programme, a set of proposals and recommendations will be formulated to deepen the understanding of how big data and artificial intelligence can improve the operations of COMESA central banks. These recommendations will be discussed at the level of central bank governors at their next annual meeting in Eswatini in November.
