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After eNaira’s slow uptake, African Central banks are proceeding cautiously with digital currencies

After eNaira’s slow uptake, African Central banks are proceeding cautiously with digital currencies

AS more African countries look to pilot regulated digital currencies, central banks are embarking on 'comprehensive tests' before full-scale rollouts. Mauritius and Tunisia -the only two African countries currently in the development stages of Central Bank-backed e-money are among over 20 countries globally expected to take significant steps towards piloting a Central Bank Digital Currencies (CBDC) this year. Mauritius has already indicated plans to start piloting its digital currency by the end of 2023 after setting up a CBDC "sandbox" -a secure computer-based testing environment- in December 2022 to experiment with various features and design attributes of the currency. "We…
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Ghana plays catch up in bid to launch Africa’s second digital currency

Ghana plays catch up in bid to launch Africa’s second digital currency

CONRAD ONYANGO BIRD, STORY AGENCY GHANA has become the latest African country to begin testing the viability of its central bank-backed digital currency, the eCedi, heating up the race to roll out e-cash on the continent. South Africa and Ghana are now the only African countries at the pilot stage of the process after Nigeria launched the eNaira in October 2021. Ghana is testing an offline version of the eCedi in Sefwi Asafo, a small town in the country's Western North Region, using a contactless smart card. eCedi is a retail Central Bank digital currency that can be used for…
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