Central Bank of the Republic of Guinea

The Central Bank of the Republic of Guinea was established on 1 March 1960 and is headquartered in the capital, Conakry. It manages Guinea's monetary policy and financial system and issues the Guinean franc, the country's official currency. The bank is wholly state owned and has reported foreign reserves of only about 50 million US dollars, among the thinnest reserve cushions of any central bank in the region. Early governors included Moussa Diakite, who served two separate terms between 1960 and 1968, and Ousmane Balde in between. In 1972 President Ahmed Sekou Toure formally attached the bank to the presidency and personally directed its operations, a period that left a lasting mark on its institutional independence. Dr. Karamo Kaba became governor in 2021, succeeding Lounceny Nabe, who had led the bank from 2010. The bank is an active member of the Alliance for Financial Inclusion and committed to the 2011 Maya Declaration on expanding access to financial services.