Official installation of the National Director of the BEAC

24 Nov, 2023

Friday, November 24, 2023 at the headquarters of the National Directorate of the Bank of Central African States (BEAC) for the Republic of Congo, in Brazzaville, the Minister of Economy and Finance, Mr. Jean-Baptiste Ondaye, Authority Congolese monetary institution and Chairman of the Board of Directors of the Bank, officially installed, in his position as National Director of this sub-regional financial institution, Mr. Serge Dino Daniel Gassackys, of Congolese nationality.


On the occasion of this ceremony, in which the Congolese Michel Dzombala, Vice-Governor of the BEAC from the headquarters city of Yaoundé (Cameroon), took part, the Chairman of the Board of Directors first recalled the context in which the new National Director took office. “As you officially take office, the national economic context remains marked by numerous challenges and issues. In particular, the persistence of geopolitical tensions in Ukraine; and, for the past month, the resurgence of the Israeli-Palestinian conflict; the persistence of inflationary tensions, in the wake of the increase in fuel prices, unfavorable weather conditions and more vigorous public demand than expected,” indicated Mr. Jean-Baptiste Ondaye.

Then, the Congolese Monetary Authority gave guidelines to the new framework installed. “Your action at the head of the National Directorate is part of the more general framework of the strategic vision of the President of the Republic of Congo, Head of State, His Excellency Mr. Denis Sassou-N'Guesso: ''Together, let's continue the march, which aims for prosperity for ALL, through the promotion of inclusive and sustainable economic growth, and the diversification of the economy,” said the speaker. Before adding that

“the BEAC is at the heart of the debate on the consistent and harmonious financing of our economies. Without prejudice to the mission of this Bank to ensure the stability of the financial system, it is up to you to contribute to the implementation of mechanisms which promote the collection of savings and their optimal reallocation towards the financing of the economy. The reforms proposed at the level of the National Economic and Financial Committee (CNEF) of Congo must be further popularized, with a view to promoting their appropriation and, thus, contributing to improving the financing of the economy and the well-being of the populations. Another question, for which you should support the implementation of the social program of the President of the Republic, is that relating to the fluidification of the processing of transfers ordered by economic agents. It is about finding a fair balance between preserving the external stability of our currency, on the one hand, and the attractiveness and competitiveness of our economy, on the other hand.

For the record, the appointment of Mr. Serge Dino Daniel Gassackys to the position of National Director for the Republic of Congo was recommended by the Congolese Head of State, Denis Sassou-N'Guesso, then ratified by Decision of the Board of Directors of the BEAC, in its session of July 20, 2022, held in Douala (Cameroon).


The Communication Unit of the Ministry of Economy and Finance

Photo credits : B2B Communication