The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives.


According to a Friday Bloomberg report, Bank of Tanzania Governor Florens Luoga said on Thursday that Tanzania was planning to follow Nigeria’s example in rolling out its own CBDC. Luoga reportedly said that the central bank had “already begun preparations” for a digital shilling, Tanzania’s currency since 1966.

In preparing to launch a CBDC, the governor said Tanzania is also planning to expand research into digital currencies and strengthen the capacity of central bank officials. If successful, Tanzania would be among a select group of countries currently exploring a rollout of a CBDC.

Many industry experts are looking at China leading the way to the next CBDC launch from a major world economy. The country’s central bank has conducted trials in major cities since April 2020 and is planning a larger test at the Beijing Winter Olympics in 2022.

According to Luoga, the initiative from Tanzania’s central bank was driven by Nigeria’s launch of its own CBDC, the eNaira, last month. The CBDC is only the second to be fully available to the public after the Bahamas became the first nation in the world to launch a central bank digital currency in October 2020.

Cryptocurrencies are largely banned in Tanzania following a November 2019 directive from the country’s central bank saying the digital assets were not recognized by local law. However, the Bank of Tanzania is reportedly working to overturn this ban following President Samia Suluhu Hassan saying in June the country should be preparing for crypto.

475 Replies to “Tanzania reportedly makes plans to launch CBDC”

  1. Needed to compose you that tiny remark just to thank you once again about the amazing suggestions you have documented at this time. It is certainly pretty open-handed with people like you to make unreservedly precisely what a few individuals might have sold for an ebook to end up making some profit on their own, particularly given that you could have done it if you ever considered necessary. Those points also worked to be the fantastic way to be sure that some people have similar fervor much like my own to know the truth a good deal more regarding this condition. I know there are millions of more pleasurable instances up front for many who find out your blog.

  2. What’s Taking place i’m new to this, I stumbled upon this I’ve found It positively useful and it has aided me out loads.

    I am hoping to give a contribution & help other users like its helped me.
    Good job.

  3. XEvil 5.0 automatically solve most kind of captchas,
    Including such type of captchas: ReCaptcha v.1, ReCaptcha v.3, Hotmail (Microsoft), Google, SolveMedia, Rambler, Yandex, +12000
    Interested? Just google for XEvil 5.0!
    P.S. Free XEvil Demo is available!

    Also, there is a huge discount available for purchase until 30th April: -30%!


  4. Hey very cool site!! Man .. Beautiful .. Amazing .. I will bookmark your website and take the feeds also…I’m happy to find so many useful information here in the post, we need develop more strategies in this regard, thanks for sharing. . . . . .

  5. I think that may be an interesting element, it made me assume a bit. Thanks for sparking my considering cap. On occasion I get so much in a rut that I simply really feel like a record.

  6. fantastic post, very informative. I wonder why more of the ther experts in the field do not break it down like this. You should continue your writing. I am confident, you have a great readers’ base already!

  7. Howdy! I simply wish to give a huge thumbs up for the great information you have here on this post. I will be coming again to your weblog for extra soon.

  8. Thanks for another great post. Where else may anybody get that type of info in such an ideal way of writing? I have a presentation next week, and I’m at the search for such information.

  9. Pingback: 2instance

Leave a Reply

Your email address will not be published.