Africa
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
Third of central banks link staff remuneration to strategic plan
Strategic planners are paid $40,000 on average per year
Strategic plans widely integrated into staff annual reviews
Staffing averages just under five persons in strategic planning units
Nigeria simplifies documentation for pan-African payments system
Revised process will affect PAPPS payments of up to $2,000 for individuals and $5,000 for businesses
Governing boards approve majority of strategic plans
Departmental heads widely assigned implementation duties
Three in four central banks use dedicated strategic units
Units typically have a direct reporting line to the governor
Events are top channel for strategic plan communication
But over half of plans lack a framework for communication
Digital transformation and payments are major strategic goals
But few respondents prioritise AI or mandate changes
Strategic planning is ad hoc in 10% of central banks
Strategic plan-setting frequency averages 3.8 years across institutions
Strategic plans tend to be built around six key pillars
Central banks split on whether planning is broad or narrow
Most central banks fund strategic plan delivery with standard budgets
Only two-fifths of jurisdictions have dedicated budget for strategic objectives
Former Bank of Mauritius governor arrested again
Harvesh Seegolam released on bail after being charged with fraud in embezzlement case
Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
Bank of Ghana needs recapitalisation – study
Economist says measure could be funded through natural resources and remittance payments
Kganyago continues push to lower Sarb inflation target
Economists back South Africa’s central bank governor, but finance minister remains sceptical
Salary still poses greatest challenge for recruitment
Staff morale constitutes lowest constraint but is a concern for some central banks
Over 40% of central banks lack formal recapitalisation agreement
Ten banks were recapitalised in the past year
Some central banks report pressure to change monetary policy
Central banks mention financial and political factors impacting independence
Two-thirds of central banks regularly audit policy processes
Internal and external audit functions are combined in most jurisdictions
Larger central banks more likely to have diversity policy
Boards with appointment powers more often focus on diversity
Central Banking Awards 2025: the winners in full
Awards recognise extraordinary achievements in another challenging year for central banks