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Tanzania’s central bank, the Bank of Tanzania, is apparently planning to launch a central bank digital currency, or CBDC, after neighboring countries announced similar plans.
According to a source, Bank of Tanzania Governor Florens Luoga stated on Thursday that Tanzania intends to follow Nigeria’s lead in implementing its own CBDC.
According to reports, Luoga stated that Tanzania’s central bank had “already initiated preparations” for a digital shilling, which has been the country’s currency since 1966.
Story by : Norvisi Mawunyegah