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President of the Republic of South Africa Cyril Ramaphosa urged members of the African Union to create a united digital currency. African leaders held a meeting in Kigali (the capital of Rwanda) as a result of which the Continental Free Trade Area (CFTA) was founded. According to the President Cyril Ramaphosa, an ideal opportunity for the introduction of the cryptocurrency has matured on the African continent. The SA Reserve Bank (Sarb) has established a financial technology (fintech) program to assess the emergence of technological innovations in the financial sector and consider their regulatory implications. In the process of consideration are such issues as clearing and settlement, currency control, monetary policy, financial stability, and cybersecurity.

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