Rwanda is looking to develop its own national Central Bank Digital Currency (CBDC) in the next two years, as part of the country’s efforts to streamline its financial system and position itself as an important player in the future of the global economy.
The national digital currency, according to the National Bank of Rwanda (BNR), would offer Rwandans a safe, free, and easy alternative to physical cash. It would also expand financial inclusion by enabling more unbanked population to participate in the formal economy.
And, as digital currencies enter wider global use, it would enable the government and private companies to participate in international trade more seamlessly.
But to many Rwandans, as is around the world, the concept of a CBDC remains theoretical.
In an exclusive interview, The New Times’ Edwin Ashimwe caught up with Soraya Hakuziyaremye, the Deputy Governor at Rwanda’s Central Bank, who unpacked the necessary steps to adopt a national currency, and the potential benefits for the public.
Already, she said that Rwanda’s main trading partners like China are testing the digital Yuan, and the European Union (EU) plans to adopt a digital currency in 2025.
2 июн 2024
