The Establishment of the Hub

February 1, 2022

Cape Town

The sustained success of our Master’s in Financial Technology means that we are producing some of the country’s most sought-after graduates. But the main goal of our program is to enable students to start their own companies and we already had several startups successfully launching their journey from our program.  

With the grant from the Algorand Foundation, we can take this to the next level and create a truly transformative environment that empowers students to launch their entrepreneurial journey.

The hub will also be the home of an extensive research program on central bank digital currencies (CBDCs) in Africa. Over eighty central banks globally are currently investigating new forms of digital money, including the South African Reserve Bank and the Central Bank of Nigeria.

The Algorand-UCT Financial Innovation Hub will accelerate our ongoing research in this area and advise government and private sector participants on how to best manage the digital transformation of our existing payments infrastructure.

CBDCs are among the most exciting applications of blockchain technology and provide a huge opportunity for the continent.