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More African central banks consider digital currencies – a possible game-changer for the continent

More African central banks consider digital currencies – a possible game-changer for the continent

CONRAD ONYANGO, BIRD STORY AGENCY THE foray into central bank digital currencies (CBDC's) in Africa is seen intensifying in 2022, following the roll-out and widespread uptake of the e-Naira, the continent’s first virtual currency backed and issued by a central bank. More than 80 percent of world’s central banks are now considering launching CBDC's, according to PwC’s 2022 CBDC Global Index. “This year, central banks are ramping up activity in the digital currency space. The success of Nigeria’s eNaira is likely to spur CBDC development in countries where financial inclusion is one of the key desired outcomes,” said PwC UK,…
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