Ghana is set to issue a digital currency - TechCentral

Ghana is set to issue a digital currency

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 the 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 cedi last year from 982-million cedi in 2017, Addison said.

“The digital age provides enormous potential for the financial sector to re-orientate itself to satisfy the new consumer and business demands for financial services,” Addison said.  — Reported by Moses Mozart Dzawu, (c) 2019 Bloomberg LP

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