The Central African Republic, a country where the Cameroonian businessman is very active, is the first country in Central Africa or even Francophone Africa to allow the use of digital currencies.
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No one is a prophet in his own country. Emile Parfait Simb might think so, as he has struggled for years to make it clear to his compatriots and especially the authorities of his country Cameroon that it is important to follow the progress of the world.
And with the evolution of technology, international trade and financial transactions in general have undergone a real revolution in recent years with the rise of cryptocurrency. And in African countries with economies where banking is limited, this is a real boon to facilitate both internal and external exchanges.
For over four years, Emile Parfait Simb, through his Global Investment Trading (GIT) structure, has made the promotion and trading of cryptocurrencies his workhorse. Indeed, he thinks that the future of the world and especially the rescue of Africa lies in the digital economy. This includes laying the foundations in Africa for an economy that is more open to competition, encouraging innovation and investment.
At the end of the chain there is the noble project to promote inclusive growth in African countries where unfortunately the car of those left behind is still full.
In this panorama, the Central African Republic did not delay for long. The authorities of this country with great potential have therefore enlisted the expertise of Emile Parfait Simb who has spawned hundreds of crypto millionaires in a few years through the Liyeplimal platform. In CAR, Emile Parfait Simb was invited by the authorities to support the country in developing legislation related to cryptocurrency.
And as of this week, the Central African Republic has a law regulating digital devices. The country becomes the first in French-speaking Africa to legally import digital devices. Speaking to the Central African Parliament, Digital Economy Minister Justin Gourna Zacko, who defended the law, emphasized the fact that, in addition to creating a legal framework for cryptocurrency, we should welcome the emergence of a favorable environment for the financial sector that will in particular make transactions at home and abroad more fluid.
CAR’s passing of a law permitting the use of digital currencies is certainly an acknowledgment of the vision of one man, Emile Parfait Simb. It is also the maturation of a partnership with the highest authorities of the Central African Republic who believed in his ideas. In addition, we recall that the celebration of Year 4 of Liyeplimal in Bangui on November 12-13, 2021 practically sealed the CAR’s commitment to digital currencies.
With the adoption of digital currencies by CAR, other countries in the sub-region could follow suit. The CAR could also be a favorable field of expression for Limocoin and Simb Coin, the cryptocurrencies created by Emile Parfait Simb that already enjoy some credit in international exchanges.
It is not excluded that the expertise of the party of GIT will be called in again to set up the first official cryptocurrency of the Central African Republic. Awaiting perhaps the Cameroonian authorities, a leading country in Central Africa, to jump on the bandwagon…
The reflection on this subject would have been going on for many months.
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