The Bank of Central African States (BEAC) urged citizens in the region to take advantage of greater interoperability in financial services to ditch physical cash for digital currencies to help reduce the spread of Covid-19 (coronavirus).
In a translated letter, BEAC governor Abbas Mahamat Tolli asked people to pay for goods using digital means, to aid social distancing measures and reduce risks associated with cash.
Tolli stated holders of bank accounts, mobile wallets and other payment systems are today able to transfer money to accounts from different providers with ease at “relatively lower costs” in countries within the Central African Economic and Monetary Community (CEMAC).
The call echoes moves in other African nations to boost interoperability of financial services, mobile money and digital banking.
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