As digital finance sweeps across the globe, Africa is not being left behind.
Currently, African countries are actively researching, piloting, or rolling out Central Bank Digital Currencies (CBDCs), a testament to the continent’s growing commitment to fintech innovation and financial inclusion.
CBDCs are government-issued digital versions of national currencies, secured, traceable, and issued directly by central banks. Unlike cryptocurrencies, they are legal tender and function alongside traditional cash.
As African central banks explore this next frontier, they aim to close financial inclusion gaps, streamline cross-border payments, and modernize monetary systems.
But rolling out a CBDC in Africa isn’t just about tech; it’s about navigating fragmented infrastructure, regulatory complexity, and diverse digital literacy levels.
Below is a rundown of ten African countries making major strides in digital currency exploration as of 2025.
Known globally for M-Pesa, Kenya is exploring whether a CBDC can enhance or disrupt its well-established digital finance ecosystem.
In a consultation paper, the Central Bank of Kenya (CBK) highlighted both opportunities and risks, including cybersecurity, disintermediation of banks, and financial exclusion. The government is consulting stakeholders to determine whether a digital Kenyan shilling would truly add value.
Governor of the Central Bank of Kenya, Patrick Njoroge, has emphasized that a CBDC is not a “silver bullet” for financial inclusion and that addressing existing issues like cultural norms and smartphone penetration is crucial.
