01/05/2026
West African Bankers Convene in Monrovia, Push Regional Action to Tackle Rising Bad Loans, Protect Financial Stability.
West Africa’s top banking executives, regulators, and financial policymakers on Tuesday, April 28, gathered in Monrovia for the opening of the 79th Executive Council Meeting and 43rd General Assembly of the West African Bankers Association (WABA), with a strong call for unified regional strategies to safeguard banking sector stability amid mounting concerns over non-performing loans (NPLs).
Held under the theme, “Safeguarding Banking Sector Stability: Regional Responses to Non-Performing Loans,” the high-level summit brought together major financial stakeholders from across the sub-region, including Executive Governor of the Central Bank of Liberia Henry F. Saamoi, WAMA Director General Dr. Boima S. Kamara, WAMI officials, WAIFEM representatives, and leaders of commercial banking institutions.
The gathering underscored the increasing urgency for coordinated regional banking reforms as West African economies continue to navigate economic shocks, currency instability, commodity price fluctuations, and global uncertainties that have worsened credit risks and distressed assets.
WABA President Warns NPLs Threaten Regional Economic Growth
In his keynote address, WABA President Dr. Guy Laurent Fondjo described non-performing loans as one of the greatest threats to banking sector resilience in West Africa, warning that rising bad debts continue to weaken bank capital, reduce investor confidence, and constrain economic development.
The President of the Liberia Bankers Association, Olalekan Balogun, reinforced the call for unity, cautioning that economic vulnerabilities in one country could have ripple effects across the entire ECOWAS region.
Balogun described regional solidarity as essential, comparing the spread of bad assets across borders to a contagious threat requiring collective defense.
