According to a statement issued by the Governor of the Bank of Tanzania, Florens Luoga, the African nation is reportedly making plans to issue its own central bank-issued digital currency (CBDC).
Tanzania Prepares To Launch Its CBDC
As many African nations continue to tap into the digital currency initiative, Tanzania may be finally ready to follow suit too.
According to a report by Bloomberg on Friday, Florens Luoga revealed that Tanzania may be taking a cue from Nigeria by fast-tracking its plans to roll out its own CBDC. Luoga insists that plans are ongoing for the launching of the digital shilling — Tanzania’s currency since 1966.
But Tanzania will not be in a haste to launch the CBDC. According to the governor, the country is presently planning to research more deeply into digital currencies, as part of its efforts towards launching properly. All things being equal, the success of the current plans would mean that Tanzania would become one of the pioneering African countries t
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