Central bank digital currency and other digital payments in sub-Saharan Africa: a regional survey

Luca Antonio Ricci, Calixte Ahokpossi, Anna Belianska, Khushboo Khandelwal, Sunwoo Lee, Grace Li, Yibin Mu, Saad Noor Quayyum, Silvia Nunez, Jack Ree, Marcos Suoto and Félix Simione

Abstract

This paper reports key findings from the International Monetary Fund’s “Sub-Saharan Africa central bank digital currency and digital payments survey”, shedding light on the motivations, benefits and challenges of central bank digital currency adoption, as well as the developments of digital private money and cryptoassets in sub-Saharan Africa (SSA). It emphasizes the pivotal role of collaboration and shared knowledge in navigating the intricate landscape of digital currencies and assets in SSA. As the evolving digital frontier is explored, the experiences and aspirations of the region’s central banks, as expressed in the survey, will help harness the potential for digital currencies, assets and payments, and foster cooperation among countries in SSA.