FinTech news in eswatini category

The kingdom of Eswatini is considering the introduction of a central bank digital currency (CBDC), joining the growing list of African countries exploring the viability of an e-currency. The Central Bank of Eswatini (CBE) said it has appointed German technology group Giesecke+Devrient (G+D) to research and explore the possibilities of a digital Lilangeni (the country currency) to complement banknotes. The CBDC project will involve a design concept and other considerations such as governance, accessibility, interoperability, security and programmability of the potential digital currency. Kenya, Namibia, Tanzania, Uganda and Zambia are some of the other African countries eyeing digital currencies to enhance their access to financial services, cost reductions, interoperability and enhanced cross-border payments.