The Bank of Ghana partners with Giesecke+Devrient (G+D) to pilot a general purpose Central Bank Digital Currency (retail CBDC) in Ghana,West Africa.
G+D is providing the technology and developing the solution adapted to Ghana’s requirements, which will be tested in a trial
phase with banks, payment service providers, merchants, consumers and other relevant stakeholders.
To this end, the Bank of Ghana has signed an agreement with G+D to implement a pilot CBDC project as a precursor to the issuance of a digital form of the national currency, the Cedi.
The project is part of the 'Digital Ghana Agenda', which involves the digitization 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, thus driving the Ghanaian cashlite agenda through promotion of diverse digital payments, while ensuring a secure and robust payment infrastructure in Ghana.
It also aims to facilitate payments without a bank account, contract, or smartphone, by so doing boosting the use of digital services and financial inclusion amongst all demographic groups.
The project will be divided into three phases: design, implementation and pilot.
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