CBN Governor Cardoso Calls on African Central Banks, DFIs to Boost Growth, Jobs, and Climate Resilience

Africa’s financial future, according to Central Bank of Nigeria (CBN) Governor Olayemi Cardoso, hinges on collaboration, credible institutions, and a clear focus on climate resilience. Speaking at the Egypt 30by30 Programme, organized by the Central Bank of Egypt in partnership with the International Finance Corporation (IFC), Governor Cardoso called on African central banks and development finance institutions (DFIs) to take decisive action to industrialize, create jobs, expand opportunities, and lift millions out of poverty.
“The 30by30 initiative reflects a shared continental vision: Africa must build resilient, climate-aware, and economically sustainable financial systems,” Cardoso said.
Highlighting regional collaboration, he explained that the CBN is working closely with the Central Bank of Egypt and World Bank partners to strengthen cross-border financial frameworks, advance green finance, and implement risk-aware strategies that can withstand global economic shocks.
Resilience starts with credibility, the Governor noted. “In Nigeria, disciplined and transparent reforms are strengthening macroeconomic fundamentals and restoring confidence in the financial system — laying the foundation for sustainable growth.”
Governor Cardoso also stressed the financial risks posed by climate change. “Climate risk is financial risk. It affects sovereign ratings, cost of capital, inflation, food security, insurance markets, and fiscal sustainability,” he said. Africa, he noted, contributes the least to global emissions yet faces some of the highest climate-related costs.
Yet, Africa holds enormous potential, according to Cardoso. “With abundant renewable energy capacity, rich biodiversity, a young population, and evolving financial markets, the continent has unique opportunities to innovate for resilience,” he said.
The Governor underscored that these opportunities cannot be realized in isolation. “By working together deliberately, transparently, and with commitment, African nations can create inclusive, sustainable financial systems capable of withstanding future shocks and enabling long-term prosperity.”
The event reinforced a clear message: Africa’s economic and financial resilience depends on institutions that combine stability, sustainability, and innovation, positioning the continent to seize opportunities in the coming decades.

CBN Governor Olayemi Cardoso urges African central banks and DFIs to drive industrialization, job creation, and climate-resilient finance, emphasizing collaboration, transparency, and long-term economic growth.