Ghana to introduce E-Cedi from 2022

Ghana to introduce E-Cedi from 2022

Ghana Government is said to introduce a digital currency from next year. Vice President of Ghana, Dr. Mahamudu Bawumia disclosed the news to Ghanaians on October 2nd. He revealed that Central Bank is working to roll-out an E-Cedi from 2022.

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The vice President emphasized the E-Cedi has nothing to do with cryptocurrencies and is devoid of fraud because it would be regulated unlike various cryptocurrencies in the system which are not.

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In September 2021, Bank of Ghana announced it was in the pilot stage of launching the E-Cedi. The currency is expected to have products and services to brigde the gap between the banked and the unbanked.

Same month in 2021, BoG said it was in advance stages of a state backed digital currency. Ghana will become one of the first African countries to develop a state backed E-currency


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