Africa
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
Most governing boards operate under charters
Strategy-setting and budget approval are boards’ top responsibilities
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
Sudanese army takes control of central bank
Military says it has retaken key buildings from rebel group
One in three central banks operate supervision committee
Government officials’ membership on boards still rare
Governors serving limitless terms tend to earn lower salaries
But governors’ average salary remains over $200,000 a year
Most governors lack legal immunity against prosecution
One-fifth of removable central bank governors shielded from legal actions
Morocco cuts rates to 2.25%
Central bank expects inflation to be near 2% over next two years
Governors serve unlimited terms in half of central banks
While term length averages five years, majority of governors can be dismissed early
Smaller central banks more likely to manage government debts
Consumer protection widely overseen in larger institutions
Half of central banks must be consulted on law changes
Practice is slightly more common at banks with government officials on the board
Working group minutes: facing up to CBDC adoption challenges
Participants at Cape Town meeting saw drawbacks to digital currency versus other payment methods