Coindesk published on 3 February 2021 an analysis titled "China Leads Africa's Digital Currency Race" by Michael Kimani, Cryptobaraza, a builder of fintech, blockchain, and crypto products in Africa.
In Africa there is a race to define a digital currency standard for the emerging digital economy. The author concludes that China has already won the race with the People's Bank of China's DCEP, a digital version of China's legal tender, the yuan. Chinese companies had a twenty year head start and effectively subsidized Africa's connectivity.
