The Bank of Ghana (BoG) is reportedly moving towards the introduction of a central bank digital currency (CBDC) experiment.
Speaking during a news conference in Ghana’s capital, Accra, on Monday, Ernest Addison, governor of the country’s central bank revealed that the BoG was in the advanced stages of creating a CBDC.
As part of his address, Addison said that the planned e-cedi will pass through developmental and evaluation phases before a decision will be made on a national rollout.
According to the BoG governor, the final stage will involve a pilot study to finalize issues concerning feasibility before the CBDC goes into national circulation.
Detailing the process made so far, Addison said that the design phase is already nearing completion with the implementation team on standby for phase two. The pilot study will reportedly involve a limited rollout of the planned e-cedi for mobile payments.
“From that pilot, we will be able to determine whether this is feasible and what sort of things need