The President of the Liberian Bank for Development and Investment (LBDI) and Chief Executive Officer (CEO) Mr. John B. S. Davies, III, has recently been elected President of the West African Bankers Association (WABA).
WABA is a professional association of banking and financial services and institutions in West Africa with the objective conceived for the establishment of the Association. It also provides support and promotes the West African Clearing House (WACH) as a means of enhancing intra-regional trade.
According to a release, Mr. Davies, who is also President of the Liberia Bankers Association (LBA), was elected over the weekend at WABA’s 73rd General Assembly held in the Guinean capital, Conakry.
He replaces Rev. Ifeanychhukwu Nwade, President of the Nigerian Export Bank (Nexim) & President of the Nigerian Bankers Association who completed his second and final two-year term.
Also elected were Messrs Thierno S. Nourou, Senegal, 1st Vice President, and Idrissa Kamara, Sierra Leon, 2nd Vice President respectively.
Meanwhile, the Guinean Central Bank Governor, Dr. Lounceny Nabe, who made remarks at the closing, urged WABA member institutions to position themselves to work with the West African Monetary Agency (WAMA), the West Africa Monetary Institute (WAMI) and central banks to ensure the implementation of the single currency project which is anticipated to enhance economic development and improve cross border trade in the region.