Policy
Share this article

Tanzania Plans to Launch CBDC After eNaira Launch: Report

The country’s central bank has reportedly begun preparations for its own CBDC.

By Sandali Handagama
Updated May 11, 2023, 6:31 p.m. Published Nov 29, 2021, 11:58 a.m. 1 min read
Tanzania Flag Against City Blurred Background At Sunrise Backlight (Getty Images/stockphoto)
Tanzania Flag Against City Blurred Background At Sunrise Backlight (Getty Images/stockphoto)

Tanzania is preparing to launch a digital form of its local currency, the Tanzanian shilling, the governor of the Bank of Tanzania said, according to a Bloomberg report.

  • The country will follow in Nigeria’s footsteps and launch its own digital currency, Governor Florens Luoga announced last Thursday.
  • Nigeria launched its eNaira in October this year, making it the first African country to issue its own digital money.
  • Luoga said the move to launch a central bank digital currency (CBDC) is to ensure that Tanzania is not left behind in CBDC adoption.
  • ”The Bank of Tanzania has already begun preparations to have its own CBDC,” Luoga reportedly said during a finance conference in Dodoma, the capital of Tanzania.
  • At the same event, Luoga said Tanzania remains wary of cryptocurrencies and advises the public to be cautious, according to Bloomberg.
  • In June, Tanzania President Samia Suluhu Hassan urged the central bank to prepare for the adoption of cryptocurrency.

Read more:Tanzania’s President Urges Central Bank to Prepare for Crypto

TanzaniaNigeriaCBDCsAfrica

More For You

‘The banks will not accept it’: Dimon escalates battle over stablecoin rewards in CLARITY Act debate

작성자 Helene Braun, AI Boost|편집자 Nikhilesh De
10시간 전
Jamie Dimon (John Lamparski/Getty Images)

JPMorgan CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned the current CLARITY Act framework could ultimately fail, as banks and crypto firms clash over whether stablecoin issuers should be allowed to offer yield-bearing rewards that resemble bank deposits.

알아야 할 것:

  • JPMorgan Chase CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned that the latest CLARITY Act draft could fail if lawmakers do not address banks’ concerns over stablecoin regulation on Friday.
  • Dimon argued that the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections, predicting...
Read full story