Senegal is the second country to introduce a digital currency
Senegal, of which Dakar is the capital, announced last week that it will be issuing its own national digital currency. Senegal is the western most point in Africa, and its currency is actually not the dollar but the Central African Franc or CFA Franc, a currency that is shared by 14 countries in Africa, most of which were former colonies of France. These countries now have a loose monetary union much like the Euro region to the north of them, to whose currency the CFA Franc is pegged. Senegal’s new eCFA digital money will be legal tender and will share this status alongside the CFA paper money currently in circulation.