List of Central Banks In Africa Along With The Year Each Was Established

Last updated on February 19th, 2024 at 11:26 am


There are 41 central banks in Africa. While each of the independent countries has an apex bank of its own, two currency unions are associated with multinational central banks.

The multinational apex banks are: West African Banque Centrale des États de l’Afrique de l’Ouest (BCEAO) and the Central African Banque des États de l’Afrique Centrale (BEAC).

The members of BCEAO and BEAC use the CFA Franc as their legal tender, which some people call economic attachment with France, their colonial master.


The Central Bank of a politically independent country is so important that the former Ghanaian leader Kwame Nkrumah in 1961 says, “our political independence will be worthless unless we use it to obtain economic and financial self-government and independence.”

Burundian franc
1000 BIF. Photo credit: Banque de la République du Burundi

As such, after gaining independence, most of the countries in Africa had to fight another battle: establishing their own apex bank to make macroeconomic policies to boost production.

For instance, the Central Bank of Nigeria (CBN) is in charge of minting naira and plays other economic and financial roles.

As such, the 41 central banks in Africa play a regulatory role in the financial system of their country by regulating the supply, availability and cost of money in their jurisdiction.

Central banks are bankers’ banks. They regulate the activities of other financial institutions in their country.

Some of the other responsibilities of a central bank include the issuance of legal tender; maintenance of external reserves; making public financial and economic statistics of a country to boost foreign investors’ confidence and acting as financial advisers to the ruling government among other things.

Also Read:  Why Apex Funded Traders Are Dominating the Market Today

In this post, we compiled a list of central banks in Africa, their year of establishment, their legal name and the official websites of African Central Banks.

Security note: Pay attention to the Hypertext Transfer Protocol Secure (HTTPS) of the websites listed in this article.

Because HTTPS is used for secure communication over a computer network and we believe that the URL of a central bank of any country should implement a high level of security on their website

List of African Central Banks

CountryLegal NamesOfficial websiteYear of Establishment
EthiopiaNational Bank of Ethiopia (NBE)
EgyptCentral Bank of Egypt
South AfricaSouth African Reserve Bank 30, 1921
TanzaniaBank of Tanzania
KenyaCentral Bank of Kenya
AlgeriaBanque d’Algérie
UgandaBank of Uganda
SudanCentral Bank of Sudan
NigeriaCentral Bank of Nigeria (CBN) 1958
MoroccoBank Al-Maghrib
AngolaBanco Nacional de Angola
GhanaBank of Ghan
Bank of Central African States
1. Cameroon
2. Central African Republic
3. Chad,
4. Equatorial Guinea
5. Gabon
6. Republic of Congo
Banque des États de l’Afrique Centrale (BEAC)
MadagascarBanky Foiben’i Madagasikarawebsite down at time of publication1974
MozambiqueBanco de Moçambique 17, 1975
Central Bank of West African States
Member states:
1. Benin republic
2. Burkina Faso
3. Côte d’Ivoire
4. Guinea Bissau
5. Mali
6. Niger republic
7. Senegal
8. Togo
Banque Centrale des États de l’Afrique de l’Ouest (BCEAO) 12, 1962
MalawiReserve Bank of Malawi 1964
SomaliaCentral Bank of Somalia 30, 1960
ZimbabweReserve Bank of Zimbabwe 1956
RwandaNational Bank of Rwanda
Republic of GuineaBanque Centrale de la République de Guinée (BCRG)
TunisiaCentral Bank of Tunisia 19, 1958
South SudanBank of South Sudan 2011
LibyaCentral Bank of Libya 1, 1956
Sierra LeoneBank of Sierra Leone 27, 1963
BurundiBanque de la République du Burundi 9, 1964
LiberiaCentral Bank of Liberia1999
MauritaniaBanque Centrale de Mauritanie
EritreaBank of Eritrea
NamibiaBank of Namibia 9, 1990
The GambiaCentral Bank of The Gambia
BotswanaBank of Botswana 1, 1975
LesothoCentral bank of Lesotho
MauritiusBank of Mauritius 1967
EswatiniCentral Bank of Eswatini 1974
DjiboutiBanque Centrale de Djibouti 18, 1979
ComorosCentral Bank of the Comoros 1981
Cape VerdeBanco de Cabo Verde 29, 1975
ZambiaBank of Zambia 7, 1964
Sao Tome and PrincipeCentral Bank of São Tomé and Prí Insecure website (use with caution)May 24, 1975
SeychellesCentral Bank of Seychelles 1, 1983

What is the youngest Central Bank in Africa?

The Bank of South Sudan is the youngest African central bank because is the World’s youngest country.

It gained independence from Sudan on July 9, 2011. South Sudan set up its central bank the same month it gained independence.

How many apex banks are in Africa?

There are 41 central banks across the continent

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