Browsing: Central Bank of Rwanda

In October 2021 Nigeria became the first country in Africa and of among few in the world to issue a digital currency that was dubbed ‘eNaira’.

Financial experts say the digital currency issued by central banks cut transaction costs and increase financial inclusion.

Maurice Muhiza Rwamigabo, Head of Exploration & Coordinator at the Accelerator Lab (an innovation and technology lab) of the United Nations Development Programme (UNDP) in Rwanda, said in an opinion article titled ‘Should Rwanda adopt a national digital currency?’ that if Rwanda wants to restructure its financial system and position itself as an important player in the future global economy, it should systematically assess and take the steps needed to develop its own Central Bank Digital CBDC. 

“A CBDC would offer Rwandans a safe, free, and easy alternative to cash. It would expand financial inclusion by enabling more of the unbanked population to participate in the formal …

Rwandan President Paul Kagame has declared interests on the need of forging partnerships for universal broadband that would lift investments required to bridge the digital divide.

Kagame was Speaking on Monday 22, where he co-chaired the 2021 spring meeting of the Broadband Commission for Sustainable Development, with Mexican billionaire.

The 2021 spring meeting of the Broadband Commission for Sustainable Development was also attended by Volkan Bozkir, the President of the United Nations General Assembly, among other high-ranked officials.

Kagame noted the tremendous growth of broadband usage during the Covid-19 pandemic season where many countries had imposed restrictions of movement in different parts of the world.

Nevertheless the president also noted of the future shifts to online life contrasting between the digital haves and have-nots is even more blatant.

“This is particularly true for education. With physical classrooms closed, many students have been unable to join virtual classrooms. Some learners have …