Africa’s top six central bank governors earn highest grades in Global Finance’s 2025 rankings

Global Finance’s Central Banker Report Cards 2025 has once again highlighted the pivotal role African central banks are playing in stabilizing economies, managing inflation, and supporting fiscal frameworks that underpin growth.

The report, which evaluates nearly 100 central bank governors worldwide on criteria such as inflation control, currency stability, and political independence, placed six African leaders among its top-ranked performers.

These exceptional governors earned grades of A and A-, indicating their resilience in navigating high inflation, volatile commodity markets, and shifting global interest rate conditions.

Their policies have not only strengthened monetary stability but also created room for governments to implement fiscal measures that reinforce long-term growth, from infrastructure spending to targeted social investments.

Kenya’s Kamau Thugge and Morocco’s Abdellatif Jouahri both earned “A” grades, reflecting the credibility they have built around inflation targeting and currency stability, alongside policies that reinforce investor confidence.

Egypt’s Hassan Abdalla, Ethiopia’s Mamo Mihretu, South Africa’s Lesetja Kganyago, and Uganda’s Michael Atingi-Ego followed closely with “A-” grades, recognition that points to their efforts in navigating volatile global markets, protecting purchasing power, and reinforcing independence in monetary policy decisions.

Beyond technical monetary management, these central banks are also complementing government fiscal policies aimed at narrowing deficits, reducing debt burdens, and improving resilience.

Uganda, for instance, is preparing to cut public spending and reduce domestic borrowing, while Kenya continues to roll out revenue reforms that boost fiscal space. These actions matter not only for macroeconomic stability but also for strengthening Africa’s credibility with global investors.

At a time when many economies across the continent face headwinds from commodity price swings, currency depreciation, and global interest rate volatility, the steady hands of central bankers are helping to anchor confidence.

The 2025 grades confirm that, despite the structural challenges, African financial leadership is playing a decisive role in safeguarding stability and enabling the continent’s longer-term economic aspirations.