East African Business

EAC explores potential of common digital cash

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By ALLAN ODHIAMBO

East Africa Community member states will explore the potential of a central bank digital currency (CBDC) for their shared payment system to end reluctance by member countries to trade in each other’s currency.

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In a call for a consultant on cross-border payments in a recent media advertisement, the bloc’s secretariat said advances in technology and innovation have created a potential for new forms of cross-border payments even as it moved to upgrade the struggling East…

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