Just few weeks ago Nigeria launched its CBDC eNaira which became a great success. eNaira successful launched creates a FOMO in Africa and now Tanzania is the next African country to launch it’s CBDC.
Florens Luoga is Governor of the Bank of Tanzania. He issued a statement on Thursday at a finance conference in the capital, Dadoma.
“To ensure that our country is not left behind the adoption of central bank digital currencies, the Bank of Tanzania has already begun preparations to have its own CBDC”
Tanzania’s central bank banned cryptocurrencies in November 2019 but now current president insisted on becoming part of this change rather then resisting it. Tanzania’s $63 Billion economy relies on cash transactions. Introduction of CBDC will convince citizens of Tanzania to use their own digital currency.