The Bank of Ghana (BoG) has signed an agreement with Giesecke+Devrient to develop the Central Bank Digital Currency project as a precursor to the issuance of a digital form of the national currency, the cedi.
The BoG in a social blog post sighted by TheGhanaTech.com said, this project is part of the “Digital Ghana Agenda“, which involves the digitalization of the country of 30 million people and its government services. The digital cedi, or e-cedi, is intended to complement and serve as a digital alternative to physical cash which will promote the Ghana cash lite agenda through digital payment.
Dr. Ernest K.Y. Addision, Governor of Bank of Ghana, has stated that “Central Bank Digital Currency (CBDC) presents a great opportunity to build a robust, inclusive, competitive and sustainable financial sector, led by the Central Bank. The concept has a significant role to play in the future of financial service delivery globally.”
“The Ghanaian government is one of the first African countries now entering a pilot phase of this project. We are proud to support Ghana with our technology and expertise,” stated the CEO of the Giesecke+Devrient Currency Technology business sector, Dr. Wolfram Seidemann.