A Bibliometric Analysis of the Sentiment Towards an African Digital Currency Union

Objective: The objective of this study is to conduct a bibliometric analysis of the prevailing sentiments in research towards the establishment of an African Digital Currency Union. By understanding the academic momentum and discourse surrounding this topic, the study seeks to provide insights that can inform policy and decision-making processes, which could ultimately contribute to the successful implementation of a unified digital currency system in Africa. This analysis therefore aims to, inter alia, identify key trends, influential studies, and emerging research areas in the field of digital currency integration in Africa. Method: The study employs a systematic bibliometric analysis of the prevailing research on digital currency integration in Africa. Data was collected from CrossRef (www.crossref.org) and the Google Scholar database (https://scholar.google.com/), focusing on peer-reviewed articles published between 2010 and 2024. The elements of focus were authors, citation frequency, and keyword occurrence, to identify key researchers, influential/persuasive publications, and emerging research themes, respectively. A quantitative thematic analysis was performed to corroborate the elicited categories and recurring themes within the dataset. Results and Discussion: The bibliometric analysis revealed several significant findings. Key researchers and institutions leading the discourse on African digital currency integration were identified, with regional hubs of expertise located primarily in South Africa, Nigeria, and Kenya. Several highly cited works serve as the fulcrum for prevailing research in this context. Notable categories of research-focus were the economic implications, regulatory challenges, and technological frameworks for digital currencies in Africa. Additional areas of significant focus that were elicited – such as blockchain technology – suggest research impetus in the practical applications, benefits, and challenges of a digital currency union in Africa. Research Implications: The findings of this study have several implications for further research and practical application. By identifying key trends and influential studies, the bibliometric analysis provides a roadmap for future research efforts, facilitating focal points for new studies on the most pressing issues related to digital currency integration in Africa. The study also highlights the importance of formalised collaboration and knowledge-harvesting among researchers, policymakers, and industry stakeholders within the research domain. By fostering research networks and partnerships, stakeholders can leverage collective expertise and resources to overcome the barriers to digital financial integration in Africa. Originality/Value: This study contributes to the existing literature by providing a comprehensive bibliometric analysis of the sentiments and impetus in prevailing research towards an African Digital Currency Union. It offers valuable insights into the discourse and academic momentum surrounding this topic, identifying key trends, influential studies, and emerging research areas. The study's findings can inform policy and decision-making processes, ultimately contributing to the successful implementation of a unified digital currency system in Africa.