Bank of Ghana Set to Issue Digital Currency in ‘Near Future’
Bank of Ghana Set to Issue Digital Currency in ‘Near Future’
Ghana’s central bank is considering the issue of a digital currency to complement the growth in electronic payment systems, such as mobile money, according to Governor Ernest Addison.
The Bank of Ghana will start a pilot project and may issue an e-cedi “in the near future,” Addison said in a statement on the regulator’s website.
Mobile money transaction volumes increased to 1.4 billion last year from 982 million in 2017, Addison said.
“The digital age provides enormous potential for the financial sector to re-orient itself to satisfy the new consumer and business demands for financial services,” Addison said.
To contact the reporter on this story: Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net
To contact the editors responsible for this story: Andre Janse van Vuuren at ajansevanvuu@bloomberg.net, Hilton Shone
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