Browsing: internet connectivity in africa

The issuance of CBDCs in Africa might also promote emerging digital technologies and their incorporation into the broader African economy

The low adoption of CBDCs in Africa, which would hinder the policy objectives central banks hope to achieve, remains a significant concern for African central banks.

  • 90 per cent of central banks were involved in CBDC analysis or projects in 2021. The percentage of central banks undertaking pilot projects reached 26 per cent
  • Access to digital cash as an alternative payment mode is a critical factor driving the adoption of CBDCs in Africa.
  • Providing access to those without internet or smartphones is a significant challenge for adopting CBDCs in Africa.

What is a CBDC

A central bank digital currency (CBDC) is a digital currency valued in the national unit of account that serves as a central bank liability. Initially, central banks globally were cautious about CBDCs, but their interest has grown recently. According to a recent Bank of International Settlements (BIS) poll, 90 per cent of central banks were involved…

In 2020, remote working finally became normal everywhere. Analysts and thought leaders had predicted that this would happen “soon” for the past 25 years, but it took a global crisis for it to materialize.

Since March, people in many professions have gotten increasingly used to working from outside their offices.

Before the pandemic hit, many employers were loath to give their staff that flexibility, especially for extended periods of time. With Covid-19, that changed overnight. Even the most diehard bosses have now given in and allowed people to work from home or remotely.

One key realization, captured in many memes, was: “Wow! all those meetings could actually have been emails!”.

Online meetings had already become generally accepted as a more efficient alternative to most in-person meetings. Many of us had even come to cherish the online format, as they tend to be shorter and more to the point than those