Browsing: Maurice Muhiza Rwamigabo

Rwanda will make a decision on the adoption of a regulated digital currency by the end of the year 2022, according to the Central Bank of Rwanda Deputy Governor Soraya Hakuziyaremye.

The project to study the adoption of the Central Bank Digital Currency (CBDC), a currency that would be managed and issued by the central bank was announced last year as a number of countries were looking into the use of new electronic currency regulated by central banks.

Tanzania and Kenya have expressed interest in the digital currency, while Nigeria issued the digital currency late last year making it the first African country to adopt the CBDC.

Read: Ghana, Nigeria digital currencies sabotaging West Africa’s Franc

In June last year, Rwanda’s central bank started a study to look into the implications of CBDC on the economy, financial sector, its technological aspect as well as an operational model in Rwanda’s local …