Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC

04/02 02:33

According to News.bitcoin, the governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has suggested the lack of access to smartphones of more than half of Kenya’s mobile phone users is working against its plan to launch a CBDC. He warned the central bank may be forced to delay its rollout of the CBDC as a result. Njoroge explained: “The CBDC will have a minimum viable technology requirement, which may be a sort of fourth-generation (4G) environment. There is an argument to be made that such a development could lead to greater financial exclusion such that some people may fall out of the financial system just because we have adopted a CBDC… This is something we need to be careful about.” The governor suggested the CBK may have to wait until Kenya has more smartphone users. Out of the 59 million mobile devices being used by Kenyans, about 56% or 33 million of these are non-smartphones or feature phones. Feature phones are not internet-enabled, which means owners of these devices are precluded from using a CBDC.

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