Banking and Capital Markets

Exploring and piloting digital currencies is becoming more popular amongst African central banks, but why?

Nigeria was the second country after the Bahamas to roll out a CBDC. Image: Unsplash/James Wiseman

Habtamu Fuje

Economist in the Africa Department, IMF

Saad Quayyum

Economist in the Strategy, Policy and Review Department, IMF

Franck Ouattara

Research Analyst in the Regional Studies Division, IMF


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Countries have different motives for issuing CBDCs but for the region there are some potentially important benefits. Image: IMF/Central Bank Digital Currencies Tracker (


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Banking and Capital MarketsAfricaThe Digital Economy


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