Under the guidance of the Fintech Committee established by the Central Bank of West African States (BCEAO), monitoring activities were undertaken to examine the topic of central bank digital currencies (CBDCs). Within this scope, BCEAO assessed previous experiences, analyzed the challenges associated with CBDC issuance within the sub-regional context, and evaluated the feasibility of conducting experimental initiatives during the period spanning from 2022 to 2023.
Source:
https://www.bceao.int/sites/default/files/2023-01/BCEAO_2021_ANNUAL_REPORT%20%281%29_0.pdf