The eVerify service will be used in the education, health care, production, and legal sectors of the country.
Overall, Sub-Saharan Africa received $117.1 billion in crypto value between July 2022 and June 2023, according to data from blockchain analytics firm Chainalysis.
The kit provides the tools to develop and test new CBDC-based products and services.
Nigeria is still the only country in Africa to have launched a CBDC while others are cautiously progressing.
The country’s central bank says it is considering rolling out the digital rupee pilot phase as soon as November — after a sandboxing exercise
Figures show 50% of countries with available data experienced an increase in consumer prices in March.
Although the U.S. accounted for less than 10% of Africa’s total trade in 2019, nearly half of Africa’s trade is settled in U.S. dollars. The mismatch in commercial and payment flow cost Africans $5 billion yearly, Kioneki writes.