The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has revealed that his outfit is on track to introduce Ghana’s digital currency, E-Cedi.
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has revealed that his outfit is on track to introduce Ghana’s digital currency, E-Cedi.
According to him, as Central banks around the globe are exploring the introduction of digital currencies, Ghana remains among the leading African countries doing same.
Speaking at a ceremony on Saturday, August 28, 2021, at Mamfe Akuapem in the Eastern Region on the occasion of the 40th anniversary celebration of Akuapem Rural Bank Limited, Dr. Ernest Addison said the BoG is already working on the pilot phase of the digital currency.
He explained saying, “the E-Cedi, which is the first general-purpose Central Bank Digital Currency in Africa, will complement and serve as a digital alternative to physical cash, in line with the Government’s ‘Digital Ghana Agenda’.”
When ready, the BoG will test the E-Cedi in trial phases with banks, payment providers, merchants, consumers and other stakeholders for a nationwide rollout. The E-Cedi will present an opportunity to build a robust, inclusive, competitive and sustainable financial sector.
Dr. Ernest Addison at the ceremony indicated the Central Bank expect that all rural and community banks will collaborate with Akuapem Rural Bank to leverage the opportunities available with digitisation within the payment ecosystem.
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