The Business Insider Africa website highlighted the crucial role that African central banks play in shaping the economic landscape of their respective countries and the continent as a whole.
These institutions are responsible for formulating and implementing monetary policies, managing inflation, stabilizing currencies, and fostering economic growth.
According to Statista, in 2024, the Central Bank of Libya and the Bank of Algeria ranked first, each managing $81 billion in assets.
The report further noted that the South African Reserve Bank ranked third in the region, managing $64 billion in assets.
Leading African central banks in 2024 in terms of assets under management (AUM) include several North African countries, with Algeria and Libya at the forefront, leveraging their oil and gas reserves for economic stability.
