The South African Reserve Bank (SARB) has made the decision to withhold the initial results of its Central Bank Digital Currency (CBDC) feasibility study, which concluded at the end of 2022. According to a report, the findings require further work, leading to the delay in their release.

The SARB initiated its general retail CBDC feasibility study in May 2021, building on the success of its earlier Project Khokha study. Project Khokha focused on high-value transaction settlements at the wholesale level between commercial banks and other stakeholders. The study aimed to explore the potential of digital currency for high-value transactions, laying the groundwork for the broader CBDC feasibility study.

The decision to withhold the results of the CBDC feasibility study suggests that the SARB may still be refining its approach to digital currency. This delay is likely a result of the bank's commitment to ensuring the feasibility study is thorough and comprehensive, taking into account the complexities and potential implications of a CBDC.

The SARB's continued exploration of digital currency is a significant development in the country's financial landscape. As the bank continues to refine its approach, it is likely that the results of the feasibility study will be released in the future, providing valuable insights into the potential benefits and challenges of a CBDC.

In conclusion, the SARB's decision to delay the release of the CBDC feasibility study results is a testament to the bank's commitment to ensuring the thoroughness and comprehensiveness of its digital currency initiative. As the bank continues to evolve its approach, it is likely that the results of the study will be released in the future, providing valuable insights into the potential benefits and challenges of a CBDC.