CBDC not a priority for Kenya, central bank says
The bank issued a discussion paper a year ago, and after assessing the feedback, it says Kenya can solve its payment issues in other ways and doesn’t need a CBDC.
Latest Central Bank of Kenya News
Kenya says CBDC not a priority, recommends survey on digital currency adoption
Central Bank of Kenya says there are better ways to address financial inclusion with current payment systems and dismissed a CBDC in the short-medium term.
Kenya digital currency-friendly fintech Flutterwave and Chipper Cash operating illegally: central bank
The bank says that the two firms never acquired the licenses to serve Kenyans, even as Flutterwave gets caught in a $52 million money laundering scandal.
Central Bank of Kenya: State-backed digital currency won’t solve all financial challenges
The CBK governor believes that central banks must address their financial challenges directly before launching a digital currency as it risks exacerbating them.
Low smartphone penetration will hinder CBDC adoption, Kenya central banks says
The central bank governor believes it may be wise to delay the possible rollout of a digital shilling as those without smartphones will be locked out.
Kenyan central bank exploring CBDCs, digital currency regulation
The Central Bank of Kenya is in discussions with other central banks globally regarding the introduction of a central bank digital currency.