The central African regional bank has been urged by its board to introduce a common digital currency for its six member states to modernize payment structures and promote regional financial inclusion.
The board made the call in an emailed statement signed by its head, Herve Ndoba, following a meeting in Cameroon’s economic capital, Douala, this week.
Several sub-Saharan African central banks are exploring, or are in the pilot phase of issuing digital currencies, following Nigeria’s October launch of the e-naira. The Bank of Central African States, which serves Cameroon, Gabon, Chad, the Republic of Congo, Equatorial Guinea and the Central African Republic, will become the first regional bank to introduce a virtual currency.
