Important considerations for designing and issuing a central bank digital currency (CBDC) in Africa

This study examines the important considerations that African central banks need to take into account when designing and issuing a central bank digital currency (CBDC). The paper begins by stating the possible motivations for issuing a CBDC in African countries. Thereafter, it discusses the important development, design, technology, policy, legal, payment system safety and resilience, stakeholder engagement, political, and human resources considerations to consider when issuing a CBDC in African countries. It also presents case studies on the important considerations that were taken into account when issuing the eNaira, eRupee, DCash, SandDollar and eCedi CBDC.