Africa
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
Central banks keep ISO 31000 and COSO-ERM as main approaches
Principles tend to vary slightly by central banks’ risk management philosophies
Conflict casts doubt on viability of Sudan’s new banknotes
Concerns over regime’s stability may undermine its efforts to swap out old currency, says analyst
One-fifth of central banks lack defined risk tolerance and strategy
But majority of respondents apply risk management principles to policies and processes
IMF tells Kenya to step up regulation of crypto market
Authorities will need to better understand digital assets market before changing policy, report says
Adoption of governance, risk and compliance systems still partial
Respondents mention main service providers and plans to upgrade
Decentralised risk teams less likely to have chief risk officers
CROs are also less common at Asia-Pacific and European central banks
Credit and counterparty risk gains relevance as most covered risk
But central banks’ top risks vary by geographical regions
Bank of Uganda to make rate decisions quarterly
Central bank lowers frequency of policy meetings from six times a year
Centralised risk teams tend to have more sub-units
Size of central banks with climate change risk unit steadies at 12%