Guinea: junta dismisses head of the Central Bank

The new military regime of Mamadou Doumbouya on Tuesday December 7, dismissed Laounceny Kaba, who had headed the Central Bank of Guinea for ten years, as well as the two deputy governors. Three new officials were appointed.

After creating a Court of Repression of Economic and Financial Offences (CRIEF), Mamadou Doumbouya's junta is cleaning up at the head of the Central Bank of Guinea.

The governor, Laounceny Kaba, seemed to collaborate with the new authorities. He had frozen the accounts of public services and former collaborators of Alpha Conde and had also pointed out at the end of October the shortcomings in the last rectifying finance law voted under the presidency of the overthrown head of state on 5 September.

But he is probably too closely associated with the former regime. Indeed, he served for a decade at the head of the BCRG. He was therefore replaced by Karamo Kaba, a young economist and director of studies in France at Ecofi Investissements, a management company specialising in responsible investments and a subsidiary of Crédit Coopératif.

The two vice-governors were also dismissed: Baïdy Aribot is replaced by Mohamed Lamine, already director general of supervision at the Central Bank of Guinea. Mrs. Souadou Baldé, head of the department of credit institutions at the BCRG, is appointed in place of Madjou Sow.