The Director General of the West African Institute for Financial and Economic Management (WAIFEM), Dr. Baba Yusuf Musa, has highlighted what he described as a year of "remarkable impact" in regional capacity building, as the Institute convened its 53rd Meeting of the Technical Committee at the Central Bank of Liberia in Monrovia.
Delivering the opening address at the high-level meeting on February 4, 2026, Dr. Musa said WAIFEM's performance in 2025 underscored its growing relevance in strengthening economic and financial management institutions across West Africa, while 2026 marks a major milestone as the Institute celebrates its 30th anniversary.
"This year, 2026, holds special significance for WAIFEM as we mark our 30th anniversary. Three decades of service to West Africa is a milestone that reflects not only our institutional resilience but also the continued confidence our member states place in us," Dr. Musa said.
The meeting brought together members of the Technical Committee, representatives of the ECOWAS Commission, international partners, and senior officials from regional financial institutions, including the Director Generals of WAMA and WAMI, as well as officials of the Central Bank of Liberia and the Ministry of Finance.
Keep up with the latest headlines on WhatsApp | LinkedIn
Dr. Musa expressed deep appreciation to the Government and people of Liberia for hosting the meeting, praising the Central Bank of Liberia and the Ministry of Finance for what he described as exceptional hospitality and meticulous arrangements.
"From our arrival at the airport to our accommodation, the warmth and professionalism displayed have been truly outstanding, reflecting the renowned Liberian spirit of brotherhood and solidarity," he said, adding that Liberia's hosting of the meeting demonstrated its continued commitment to regional cooperation and economic integration.
Reviewing WAIFEM's performance over the past year, the Director General disclosed that the Institute successfully delivered 54 training and capacity-building programmes in 2025, reaching a total of 1,712 participants across member states and beyond. He noted that 29 of those programmes were delivered in the second half of the year alone, engaging 896 participants and reflecting growing regional demand for WAIFEM's services.
"These are not just numbers," Dr. Musa stressed. "They represent lives touched, competencies enhanced, and institutions strengthened."
He reported that training outcomes remained strong, with 98 percent of participants rating facilitator effectiveness as excellent or high, while 94 percent confirmed that training objectives were fully achieved.
According to Dr. Musa, WAIFEM maintained balanced regional participation, with Nigeria accounting for 21 percent of participants, The Gambia 21 percent, Ghana 19 percent, Sierra Leone 20 percent, and Liberia 16 percent, a distribution he said reflected broad-based engagement across diverse national contexts.
He also highlighted progress in gender inclusion, noting that female participation reached 42 percent in the second half of 2025, while reaffirming the Institute's commitment to achieving full gender parity.
"While we celebrate this progress, we remain committed to achieving full gender parity in all our programmes, recognizing that inclusive capacity building is essential for comprehensive and sustainable development," he said.
Dr. Musa further explained that central banks remained WAIFEM's largest constituency, accounting for 46 percent of participants, followed by ministries of finance at 23 percent and other public-sector economic management institutions at 29 percent, reinforcing the Institute's strategic positioning in regional economic governance.
On partnerships, the Director General said WAIFEM deepened collaboration with major international institutions, including the International Monetary Fund, the World Bank, the Commonwealth Secretariat, the African Legal Support Facility, and the African Development Bank, describing these relationships as critical to enhancing programme quality and institutional credibility.
He welcomed the presence of the Commonwealth Secretariat at the meeting, describing it as a long-standing partner in debt management capacity building, and said WAIFEM looked forward to further strengthening that collaboration for the benefit of the region.
Dr. Musa also disclosed that WAIFEM's participation as an observer in key IMF and AFRITAC West 2 steering committees had opened new avenues for cooperation, while its role as faculty at the African Development Bank's Macroeconomic Policy Management Academy further expanded its regional influence.
Turning to institutional development, he said WAIFEM successfully managed key leadership transitions following the retirement of Dr. Euraclyn V. Williams after 15 years of service. He announced the appointment of Mr. Mohammed Sajor Bah as Director of Administration and Finance and Mr. Mohammed Adamu Bara as Director of Fiscal Policy, Debt Management, and Regional Integration, describing the appointments as part of the Institute's commitment to succession planning and institutional renewal.
Looking ahead, Dr. Musa warned that West Africa faces a complex and rapidly evolving global economic environment marked by inflationary pressures, debt sustainability challenges, exchange rate volatility, climate-related shocks, and the demands of digital transformation in financial services.
"At the same time, we are presented with unprecedented opportunities," he said, citing regional integration under the African Continental Free Trade Area, technological innovation, and the region's youthful population.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
He stressed that WAIFEM's role in building the capacity of central banks, ministries of finance, and economic management institutions had never been more critical, describing the Technical Committee meeting as a strategic moment to shape the Institute's direction for 2026 and beyond.
"This meeting is therefore not merely a procedural gathering; it is a strategic moment to chart the course for WAIFEM's continued relevance and impact," Dr. Musa said.
He expressed confidence that deliberations over the next two days, including review of the draft 2026 budget, would be constructive and forward-looking, emphasizing that WAIFEM's success should be measured by the transformation it drives across institutions and economies.
As WAIFEM prepares to commemorate its 30th anniversary later this year, Dr. Musa said the celebration would honor three decades of partnership and shared commitment to building a stronger and more prosperous West Africa, while outlining an ambitious vision for the future.
"This is not just a celebration of institutional longevity, but a celebration of three decades of collaboration and shared purpose," he said.
He concluded by thanking Liberia once again for hosting the meeting and wished delegates fruitful deliberations, saying, "Liberia has a lot of potential, and together we must take deliberate action to grow the region."
