Eswatini Launches Digital Lilangeni CBDC to Modernize Financial Infrastructure

January 21, 2024

2 minutes read

Digital Lilangeni

In a landmark development aimed at modernizing Eswatini’s financial infrastructure, the Central Bank of Eswatini (CBE) confirmed today the official launch of the nation’s first central bank digital currency (CBDC), known as the “Digital Lilangeni.” This move places Eswatini among a growing number of African nations exploring digital currencies as a tool to improve financial inclusion, enhance efficiency, and drive economic modernization.

The launch of the Digital Lilangeni follows several years of extensive research and pilot testing conducted by the CBE. In partnership with German technology company Giesecke+Devrient, Eswatini undertook both sandbox and live testing phases to assess the digital currency’s viability and effectiveness. These phases included testing wallet functionality, payment processing, and integration into the country’s existing financial systems. CBE’s Deputy Governor, Mhlanga Mkhonza, expressed optimism that the Digital Lilangeni would help expand financial access for underserved communities by providing a cost-effective, digital alternative to cash transactions.

Eswatini’s CBDC is structured as a tokenized retail CBDC designed to work on a distributed database. This infrastructure is expected to allow for greater accessibility, even for users without consistent internet access, through physical smart cards that store digital currency for offline transactions. The CBDC is integrated with the South African Rand, ensuring interoperability across borders and stability within the broader Southern African financial ecosystem.

As part of its rollout, the CBE has outlined several policy measures to regulate the Digital Lilangeni’s use, including mandatory compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations. These measures are intended to enhance the CBDC’s security, while minimizing risks associated with digital currency misuse.

The launch marks a significant step toward achieving Eswatini’s “cash-lite” vision, which seeks to reduce dependence on physical currency and encourage digital financial services. The CBE’s strategic priorities now include further infrastructure upgrades and partnerships with local banks and mobile money providers to ensure smooth adoption and integration of the Digital Lilangeni into daily transactions across Eswatini​.

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

Olakunle Nafiu

NYSC Highlights Employer Rejection Concerns

The National Youth Service Corps (NYSC) has raised alarm over the growing trend of employers ...

heat

Morocco Heat Wave Drives Surge in Air Conditioning Demand

Morocco is grappling with a severe heatwave this summer, with temperatures soaring well above average ...

Trump

U.S. Hosts Five West and Central African Leaders in Strategic Summit

The United States is hosting a landmark two-day summit at the White House, beginning Wednesday, ...

West Africa

West African Cocoa Output Set to Drop 10% in 2025/26 Season

West African cocoa production is projected to decline by 10% in the 2025/26 season, extending ...

Features

heat

Morocco Heat Wave Drives Surge in Air Conditioning Demand

Morocco is grappling with a severe heatwave this summer, with temperatures soaring well above average ...

UK

UK and US Clamp Down on Nigerian Visas:What Does It Really Mean?

The United Kingdom and United States have recently tightened visa policies for Nigerian citizens, sparking ...

Netherlands Returns 119 Looted Benin Bronzes to Nigeria

On Thursday, June 26, 2025, the Netherlands returned 119 looted artifacts, known as the Benin ...

Ngugi-wa-Thiongo

Ngũgĩ wa Thiong’o:Passed the pen to the Next Generation.

Ngũgĩ wa Thiong’o, a legendary Kenyan writer, scholar, and revolutionary voice in African literature passed ...

ECOWAS

ECOWAS Celebrates 50th Anniversary Amid Sahel States Tensions

On May 28, 1975, fifteen West African nations signed the Lagos Treaty, establishing the Economic ...

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

​Bitcoin, the pioneering cryptocurrency, has captivated the financial world with its innovative technology and notable ...

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea’s military-led government has officially announced that a national referendum on a new constitution will ...

Ivory Coast economic growth

Côte d’Ivoire’s Economic Boom Faces Political Test in 2025 Election

Ivory Coast’s Economic Success: A Model for West Africa Côte d’Ivoire has emerged as one ...

Latest News

Today in History

July 10th is the day in 1553 that Lady Jane Grey takes the throne of England.

Exchange Rate Per Dollar

AM Armenian Dram382.6962
GH Ghana Cedi10.4
GM Gambian Dalasi71.5
GN Guinea Franc8,668.68
NG Nigerian Naira₦1,528
CF CFA Franc BEAC558.7784
10 Jul · CurrencyRate · USD
CurrencyRate.Today
Check: 10 Jul 2025 06:05 UTC
Latest change: 10 Jul 2025 06:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?