Trending
- EABL half year profit remains flat as costs rise
- Can Nuclear power generation save Southern Africa’s Power Pool?
- The Slowdown of the Global Economy: What it means for Africa’s Fragile Economies
- Tullow Oil to invest US$10 million in Kenya’s oil field development
- Harnessing 4IR to propel Africa’s economy to address unemployment
- Kenya ranked 13 on list of countries with good governance in Africa
- Mozambique: Central Bank maintains monetary policy interest rate
- Artificial Intelligence in Africa – Leveling the narrative
Browsing: bitcoin adoption
Despite this, the “SANGO” cryptocurrency project, which will be released in the near future, is open to prospective investors, who can register on a waiting list on the official website.
In a statement released on Monday, Touadera stated that “a formal economy is no longer an option.” “We are being held hostage by a bureaucracy that is impossible to navigate, and as a result, we are unable to change to more competitive solutions.”
Gourna Zacko, who is the minister of digital economy and telecommunications, and Calixte Nganongo, who is the minister of finance, were the driving forces behind the passage of the Bitcoin bill in the National Assembly of the country, which was done with the intention of “economic recovery.”
African countries’ attempts to form a common regional currency have proven futile precisely because of all the frameworks of laws that need to be revised and harmonized in the different countries. For example, the eco in West Africa and the shilling in East Africa.
Ghana and Nigeria have even gone ahead to create their central bank digital currencies, indicating their lack of belief in the workability of the eco.
What does this mean? In the next 100 years or more, Africa cannot create a common currency acceptable throughout the continent.