Due to mismanagement alongside poor formulation and implementation of monetary and fiscal policies, level of economic development in Africa remains low. This study argued that African countries have great potentials to accelerate and sustain economic growth through effective monetary policies due to huge market potentials, growing population, and availability of manpower, untapped natural resources and other growth advantages provided effective policies are enacted. Against this backdrop, this study investigated the effect of monetary policy transmission mechanism and

Due to mismanagement alongside poor formulation and implementation of monetary and fiscal policies, level of economic development in Africa remains low. This study argued that African countries have great potentials to accelerate and sustain economic growth through effective monetary policies due to huge market potentials, growing population, and availability of manpower, untapped natural resources and other growth advantages provided effective policies are enacted. Against this backdrop, this study investigated the effect of monetary policy transmission mechanism and