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African Central Banks Have Different CBDC Motivations

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Today the Bank for International Settlements (BIS) published a paper on central bank digital currency (CBDC) in Africa, highlighting that motivations differ from other emerging market countries.Mobile money is the dominant form of digital payment in Africa, led by Kenya’s M-Pesa. These systems enable faster payments but half of the 19 African central banks believe that CBDC would provide a better solution.

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