Ghana’s Central Bank Considering Issuing Its Own Digital Currency

The governor of the Bank of Ghana (BoG), the central bank of the Republic of Ghana, said in a recent keynote address that the country is exploring the possibility of issuing a central bank digital currency (CBDC). 

The keynote address was given by Ernest Addison, an economist serving as governor of the BoG, during the 23rd National Banking Conference, which was held on Tuesday (November 26) at the Chartered Institute of Bankers in Ghana.

According to the transcript of his speech, Addison claimed that the central bank was exploring the possibility of issuing its own digital currency. More specifically, he stated that the bank was "in discussion with key stakeholders" to look into the idea of a CBDC pilot project  (in a sandbox environment) "with the possibility of issuing an e-cedi in the near future."

The central bank governor claimed that a digital currency was in-line with the nation’s effort to modernize the financial and banking sector. 

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