Mauritania’s Central Bank (CBM) is partnering with the German firm Giesecke+Devrient (G+D) to introduce a central bank digital currency (CBDC), marking a significant milestone in modernizing the country’s financial systems. This collaboration aims to incorporate a digital version of the Ouguiya, Mauritania’s national currency, enhancing the nation’s economic infrastructure.
Pioneering Technology for Financial Inclusion
Giesecke+Devrient will provide critical technical support to CBM, leveraging their extensive expertise in digital currencies, evidenced by their previous successful partnership with the Ghanaian central bank on the e-cedi. The initial phase of this collaboration involves crafting detailed technical and operational requirements and deploying technological solutions for trial scenarios.
Enhancing Economic Development and Social Progress
The introduction of the CBDC is set to transform Mauritania’s financial landscape by promoting greater economic and social development. Governor Mohamed Lemine Ould Dhehby of the CBM underscored the project’s importance, highlighting its potential to broaden the bank’s expertise in digital finance. This initiative is expected to increase financial accessibility and inclusion, benefiting various sectors of the population.
Wolfram Seidemann, CEO of G+D Currency Technology, echoed these sentiments, expressing enthusiasm for the project’s role in boosting Mauritania’s economic growth and societal well-being. The partnership is viewed as a strategic pillar of the national development plan, aiming to enrich community prosperity and complement traditional monetary systems.
