• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    Ghana & Nigeria to Improve Cross-Border Trade
    Tanzania Seeks to Reach New Record Cashew Production by 2025
    Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services
    African Development Bank Group President Calls for More Partnerships to Build Africa’s Social Infrastructure
    Ghana, Key Stakeholders: Sign a Renewable Energy Agreement Worth US$69.88 Million to Improve Access and Socio-Economic Development
    Africa Development Bank Approves $1.5 Billion Facility to Counter Food Crisis on the Continent
    Sh32 Billion of Phase 2 of Second Container Terminal of the Kenya Ports Authority at the Port of Mombasa is finished off and…commissioning in June of 2022
    Africa Green Growth Readiness Assessment: Reveals Africa Growing Political Commitment to Green Growth, Report

    Rwanda, Central Bank Intended to put in Operation, Digital Currency

    Posted On 24 Aug 2019
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    Rwanda, City of Kigali
    Photo Credit: The new times

    NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- Rwanda’s Central Bank possibly would be the first African Central bank to bethink the issuance and implementation of its own digital currency in the African economy. The bank ettles at making transactions more efficient and convenient and contributing to economic growth.

    From news reports, the National Bank of Rwanda is elucubrating the collective activities of other reputable national banks, like the Royal Bank of Canada, De Nederlandische Bank (DNB) and the Monetary Authority of Singapore.

    Should the secret supporter currency proves futile, Rwanda might inevitably issue crypto currency, that would be similar to the one that is underway in China. The currency if launched will make Rwanda among the pioneers of digital transformation in Africa and might eventually inspire other African countries to create similar products.

    Peace Masozera Uwase – Financial Stability Director General noted that “there are still concerns about how exactly you convert the entire currency into digital form, how to distribute that and how fast can you process those transaction.”

    “Challenges come in if the technology is down how to deal with such issues?

    “We will join in once we are ready”, Uwase said.

    Rwanda is an African country with a central bank that’s technologically inclined and takes significant strides to ascertain the financial safety of the citizens. In May 2019, the National Bank of Rwanda alerted the public (citizens) about Ponzi Schemes, some of which involved crypto currencies. In the statement released by the central bank of Rwanda; investors were warned against discriminate investments and advised to take protective measures against scam investment schemes.

    www.newafricabusinessnews.com
    To Support Africa’s Most Read and Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com to all the people you know. Many Thanks!   INFO@NEWAFRICABUSINESSNEWS.COM

    For New Africa Business News Abdul Rahman Suagibu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

     

     

     

     

     

    NEW AFRICA BUSINESS NEWS
    COMING SOON ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER. THANK TO COMPANIES THAT WANT TO ADVERTISE.   INFO@NEWAFRICABUSINESSNEWS.COM.

     

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Africa Oil and Power Ministers State Companies to lead National Energy Investment Drive

    Next Story

    African Development Bank’s TZ Portfolio Size Scored $2.1 billion

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Posted On 24 Jun 2022

    Ghana & Nigeria to Improve Cross-Border Trade

    Posted On 21 Jun 2022

    Tanzania Seeks to Reach New Record Cashew Production by 2025

    Posted On 16 Jun 2022

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Facebook

    Latest Posts

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Ghana & Nigeria to Improve Cross-Border Trade

    Tanzania Seeks to Reach New Record Cashew Production by 2025

    Recent Posts

    • Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    • Ghana & Nigeria to Improve Cross-Border Trade
    • Tanzania Seeks to Reach New Record Cashew Production by 2025
    • Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    • World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.