Africa
Flexibility and business continuity seen as key benefits of cloud services
But three in four fintech teams point at privacy as concern
Central banks more likely to use software-based cloud services
Cloud widely used for cyber security and other applications
AI spreads further among fintech teams
Centralised fintech teams more likely to apply AI/ML to sentiment analysis
Half of planned CBDCs designed to be programmable
Two-thirds of wholesale CBDCs likely to be programmable
Most central banks without CBDC mandate engaged in retail projects
Only one in three banks has a legal mandate for CBDC issuance, but many are still working on digital currency
American central banks less likely to struggle with fintech recruitment
But American banks face toughest battle for talent retention
Rwanda holds rates at 6.5%
Central bank expects inflation to remain within target
Fintechs more likely to be licensed in upper-middle income countries
Licence issue rate across central banks broadly unchanged year on year
Nigerian central bank to cap fees for ATM withdrawals
Move meant to curb rising costs of withdrawals
Cyber, suptech and CBDCs are top areas for fintech research
Central banks with fintech strategy more likely to prioritise CBDCs
Zambia raises rates amid persistently high inflation
Central bank does not expect 6–8% target to be reached until at least 2027
Cyber security and legacy systems still greatest technology challenges
But concerns differ by central banks’ CBDC mandate
Central banks lacking fintech unit less likely to have a strategy
Respondents’ strategic priorities include digitalisation, regulations, collaborations and others
Treasury officials charged over Bank of Uganda hacking
Ministry’s top accountant among those accused of corruption and abuse of office
Four in five central banks lack chief fintech officers
Centralised fintech teams more likely to have chief fintech officers
Police arrest treasury officials over Bank of Uganda heist
Central bank said it has recovered more than $8 million of $16.9 million in diverted payments
New governor takes over at Bank of Ghana
Johnson Pandit Asiama assumes office as predecessor takes terminal leave ahead of retirement
Rwanda and Ghana to connect payment systems
Rwandan central bank governor reveals plans to increase financial inclusion with CBDC, microfinance
South Africa delivers third successive rate cut
Move comes as inflation remains at lower end of target range
Privacy and security seen as greatest AI risks
Larger risk teams more likely to provide training to staff on risk types
Libya to issue new banknotes
Central bank announces plan for five, 10 and 20 dinar bills amid continued cash shortage
Most central banks reviewed risk management in past year
Other aspects evaluated varied by risk team structure and departmental staff strength
IMF commends Ethiopian central bank’s reforms
Institution says NBE’s measures helped country make progress in debt restructuring talks
Cyber and geopolitical risks are managers’ top risks
Geopolitical risks seen rising fastest, but cyber is the biggest concern currently