March 8th, 2022 - E4E receives Algorand Foundation grant award to support tech policy advocacy on Central Bank Digital Currency (CBDC) in Africa. Following the spirit of Ubuntu, E4E’s inaugural Fellowship program will be crowdsourcing intelligence from a broad range of stakeholders and enthusiasts. This grant will support E4E’s goal of publishing a Policy Report on CBDCs in Africa at the end of the Fellowship program.
The inevitability of digital currencies is a fact supported by the historical evolution of money from cowries of the stone age to today's paper money. Obviously, the digital age needs money that embodies the characteristics of this era.
While private digital currencies like Bitcoin and Eth appear to be gaining prominence, Central Banks worldwide are considering a countermeasure through a CBDC. Apparently, the Battle of the Coins is imminent.
However, with the exception of the Central Bank of Nigeria, the Bank of Ghana, and the South African Reserve Bank (the Bank), few CBDC-related activities are seen in Africa. This calls for an examination into the state of CBDC in Africa. We at E4E appreciate the support received from the Algorand Foundation, and look forward to contributing to this topical conversation with a focus on the African continent.
"We intend that the eventual Policy Report will serve as a guiding light on the CBDC path as more African countries launch, pilot or explore central bank digital currency in Africa" - Faith Obafemi, Executive Director, E4E.
For more information on E4E, please visit https://et4em.org/. If you are interested in submitting a project for support from the Algorand Foundation Grant program, please apply here.
About E4E
The E4E (Emerging Technology for Emerging Markets) think-tank is a non-profit focusing on evidence-based tech policy advocacy-to-action around emerging technologies for emerging markets, that ensures emerging markets are not outmaneuvered in the adoption of emerging technologies.
