Proposed digital currency to tame transaction costs
Kenya’s digital currency will enhance financial deepening of the economy, cut printing costs and reduce unnecessary intermediaries who drive up the cost of transactions. PHOTO | FILE
Kenya is looking into a digital currency regime that is being touted as a game changer of the digital money payment space with consumers reaping the full benefits of faster and cheaper transactions.
A cross section of economists polled by The EastAfrican shared the view that the proposed regime is critical for faster and cheaper payments including cross-border payments, with stiffer competition expected with the existing mobile money payment platforms which would drive down transaction costs .
