started · updated
Central Bank of Egypt Publishes Africa's First Financial Stability Report
The Central Bank of Egypt (CBE), acting as chair of the African Financial Stability Report Working Group, led the preparation and publication of the continent’s first Financial Stability Report. The report covers 46 African countries, representing about 85 % of the nations, 84 % of the population and roughly 90 % of Africa’s GDP. It was produced under the African Financial Stability Committee (AFSC), an initiative proposed by CBE Governor Hassan Abdalla to the Association of African Central Banks in 2024, with its inaugural meeting held in Cairo in December 2024.
Contributions came from experts of seven African central banks – the Central Bank of West African States, the Bank of Central African States, the National Bank of Rwanda, the Bank of Mauritius, the South African Reserve Bank, the Bank of Mozambique and the Central Bank of Eswatini. The report finds that African central banks have implemented on average 61 % of international best‑practice financial‑stability measures, that the African financial‑stability index stood at 0.55 in 2024, and that banking‑sector assets account for roughly 63 % of the continent’s financial system. Despite global challenges, Africa’s economies grew by 3.2 % in 2024.
Entities
African Financial Stability Committee · African Financial Stability Report · Central Bank of Egypt · Central Bank of West African States · Hassan Abdalla · Hassan Abdullah · South African Reserve Bank · West African Central Bank
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 3 SOURCES] The Central Bank of Egypt acted as chair of the African Financial Stability Committee working group and prepared and published the first continent‑wide financial stability report. www.elaosboa.com · mebusiness.ae · www.vetogate.com
- [● 5 SOURCES] The report analyses 46 African countries, representing about 85 % of the continent’s nations, 84 % of its population and 90 % of its GDP. www.elaosboa.com · mebusiness.ae · www.vetogate.com · www.dailynewsegypt.com · www.alaraby.co.uk
- [● 3 SOURCES] Banking‑sector assets represent about 80 % of Africa’s GDP, while non‑banking financial assets represent about 46 % of GDP. www.elaosboa.com · mebusiness.ae · www.vetogate.com
- [● 5 SOURCES] The African financial‑stability index recorded a value of 0.55 during 2024. www.elaosboa.com · mebusiness.ae · www.vetogate.com · www.dailynewsegypt.com · www.alaraby.co.uk
- [● 5 SOURCES] Africa’s average economic growth in 2024 was 3.2 %. www.elaosboa.com · mebusiness.ae · www.vetogate.com · www.dailynewsegypt.com · www.alaraby.co.uk
- [● 5 SOURCES] African central banks have implemented on average 61 % of international best‑practice financial‑stability measures. www.elaosboa.com · mebusiness.ae · www.vetogate.com · www.dailynewsegypt.com · www.alaraby.co.uk
- [● 5 SOURCES] Seven African central banks contributed experts to the report: the Central Bank of West African States, the Bank of Central African States, the National Bank of Rwanda, the Bank of Mauritius, the Bank www.elaosboa.com · mebusiness.ae · www.vetogate.com · www.dailynewsegypt.com · www.alaraby.co.uk
- [● 3 SOURCES] Total assets of Africa’s financial system amounted to roughly 126 % of the continent’s GDP. www.elaosboa.com · mebusiness.ae · www.vetogate.com
- [● 2 SOURCES] The African Financial Stability Committee was proposed by CBE Governor Hassan Abdalla to the Association of African Central Banks in 2024. www.dailynewsegypt.com · www.alaraby.co.uk
- [● 5 SOURCES] The Central Bank of Egypt chaired the African Financial Stability Report Working Group and led the preparation and publication of the first African Financial Stability Report. www.dailynewsegypt.com · www.alaraby.co.uk · www.elaosboa.com · mebusiness.ae · www.vetogate.com
- [● 2 SOURCES] Banking‑sector assets represent about 63 % of Africa’s financial system. www.dailynewsegypt.com · www.alaraby.co.uk