According to a tweet from The Government of Uganda official account, Uganda will rely on Temtum group for its CBDC rollout. Uganda’s minister for Finance Matia Kasaija confirmed meeting a team from Temtum in Kampala where they discussed “digital currencies and CBDC technology as well as revenue tax collection and mobile money” issues.
“We are impressed with their technology,” the Minister posted on Twitter.
Temtum Group is a leading cryptocurrency, founded by Richard Dennis, and developed on the Temporal Blockchain from Dragon Infosec.
They specialize in blockchain and cryptocurrency solutions.
Temtum group owns the Tem digital token which the government of Uganda is expected to adopt for its CBDC rollout.
CBDC adoption in Africa
In October 2021, President Muhammadu Buhari unveiled eNaira making Nigeria the first country in Africa to adopt the Central Bank Digital Currencies. During the launch, only three media outlets were invited for coverage and no questions were allowed.
Buhari said the innovation could grow Nigeria’s economy by $29 billion in the coming decade, and further financial inclusion goals according to a report published by Reuters.
On Feb 10, 2022, the Central Bank of Kenya officially called for comments and input from the public regarding its CBDC implementation. Kenyans are required to submit their responses to [email protected] or through the online form. T
The discussion paper highlights the opportunities and risks of the currency, an overview of the jurisdictions’ motivations, applicability in Kenya such as key elements for consideration, and use case for the Kenyan CBDC.