Some of Africa’s central bankers aren’t banking on crypto saying it is a financial instability
Bankers in Nigeria and Kenya say the digital currencies are volatile to become an acceptable payment method.
Reports suggest a central bank coin has a better chance of narrowing the financial exclusion gap.
Nigeria has even launched its own digital currency a first by an African central bank.
The coin has been met with some scepticism from industry experts and users.
It’s understood Kenya could follow suit with its own digital currency to bring down payment and cross-border transaction costs.
