Africa
Primary RTGS systems have average $1.65m in operating costs
Majority of central banks increased payments system divisions budgets in the past year
Payments oversight is under-resourced for a third of central banks
Respondents identify shortage of human capital, capacity building and dated technology as concerns
Few non-banks have access to RTGS systems
Maximum number of institutions reported to have access to one RTGS system was 233
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions
Payment ecosystems remain relatively unchanged over past year
Most central banks help price RTGS services and many do for credit transfers and direct debits
ISO 20022 payments messaging adoption rate increases
Majority of central banks uphold plans to transition by 2025
More than 80% of central banks are investigating CBDC
Central banks feel negatively about retail digital currencies in their payment systems
Most central banks regulate or operate instant payment systems
Bank accounts, phone numbers and QR codes are most common access tools for instant payments
Most RTGS systems are more than three years old
Nearly 60% of central banks plan to upgrade their RTGS payment system in the next year
Most central banks use third-party payment providers
Montran, Swift, and CMA Small Systems come up repeatedly as third parties
Ethiopia’s central bank issues first foreign mobile money licence
Central bank says there is strong public demand for fintech services
Around half of communications staff hold master’s degree or above
Over 40% of staff were hired with a communications degree on average
Most people visit central banks’ websites via search engines
Clicks on social media platforms drive around 7% of traffic to central banks’ websites
Most central banks give background briefings on key initiatives to journalists
Practice is dominant across central banks from advanced and emerging economies
Boosting social media and improving websites top priorities for comms teams
Data suggest central banks’ focus on communicating with the public
EME central banks favour social media, AE institutions prefer traditional channels
Central banks actively manage four social media platforms on average
Central banks most effective in monetary policy communications
All participating central banks monitor media to gauge effectiveness of communications
Email, events and seminars top tools for internal communication
But few central banks have a mobile app for staff communication
Most AE central banks split internal and external communications
But those in emerging market economies tend to assign the tasks to a single team
Most central banks have centralised communications teams
Result broadly similar across central banks in advanced and emerging market economies
Most communications teams outsource tasks to external providers
Outsourcing more common among central banks in emerging markets
Email and social media most common two-way channels
Central banks in emerging market economies prefer social media to email
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
Few central banks report recruitment difficulties
Central banks from emerging market countries more likely to say they face problems finding staff