Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Africa

South Africa Reserve Bank to Launch Digital Legal Tender

Tech Gist Africa by Tech Gist Africa
05/17/2019
in Africa, Africa News, News
0 0
0
South Africa Reserve Bank to Launch Digital Legal Tender
0
SHARES
Share on FacebookShare on Twitter

South Africa’s Reserve Bank intentions to issue an electronic legal tender to the public. They have issued an “expression of interest” document that centres around the afore-mentioned intentions. The document calls on all interested solution providers to submit an investigative project that will bore the central bank’s digital currency to SARB.

According to the Central Bank, the digital currency core project was mandated in 2006 by the Currency Management Department of SARB. The project had two focus; research and development of a set of cases applicable to the intended feasibility project.

The digital current feasibility project will be carried out in an innovation lab environment. It will cover the following:


See also: Kenya Unveils a Centralized Digital Economy Blueprint


Validate the feasibility of proposed technical solutions, enhance the body of knowledge, and extend participation to selected banks and mobile network operators (payment service providers and niche technology providers).

The currency will either be issued by SARB or be backed by SARB with regulatory standards and interoperability requirements. The supply of the currency will be limited and determined by the applicable monetary policy. It will only be issued to commercial banks and licensed service providers at a one-to-one equivalence with the rand.

Customers must be able to own and transact with the digital currency without requiring a bank account. Consumers and businesses must be provided with channels to obtain or return the currency exchange for cash. The expression of interest will close on the 6th of June 2019.

 

More on TechGist Africa:

  • New Competitor for Ride-hailing Providers – “inDriver” Launches in South Africa
  • Techpreneur of the week: Mike Adenuga: Setting Precedent
  • Mixed feelings as Uber releases Quiet Mode Feature for Drivers
  • Jumia Announces 58% Gross Merchandise Volume Growth amidst Fraud Allegations
  • Nigeria modifies Visa policy, rolls out e-Visa
ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across Africa and sharing simple social media and digital marketing tips for startups, entrepreneurs and business owners.

Related Posts

Apple WWDC 2025
Events

Apple Unveils iOS 26, macOS Tahoe, and AI Innovations at WWDC 2025

by Tech Gist Africa
06/15/2025
0

Apple kicked off its annual Worldwide Developers Conference (WWDC) with a series of announcements highlighting significant advancements in software design...

Read more
Zero Carbon Charge South Africa

Zero Carbon Charge, a South African startup secures US$5.6 Million investment

06/15/2025
Kera Senegal

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

06/15/2025
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
Next Post
Liquid Telecom to Tighten Cybersecurity in East Africa with Microsoft’s Azure Stack, South Africa Reserve Bank to Launch Digital Legal Tender and More

Liquid Telecom to Tighten Cybersecurity in East Africa with Microsoft’s Azure Stack, South Africa Reserve Bank to Launch Digital Legal Tender and More

Multichoice Group

SKYWORTH Electronics Launches Voice Controlled Television in South Africa

UNICEF and Safaricom to Improve Information Access in Kenya, Here’s How

UNICEF and Safaricom to Improve Information Access in Kenya, Here’s How

No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.