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Bank of Ghana taps G+D for CBDC pilot

Bank of Ghana taps G+D for CBDC pilot

The Bank of Ghana has enlisted German outfit Giesecke+Devrient (G+D) for an upcoming central bank digital currency pilot.

G+D will provide the technology and technical expertise for the e-Cedi project, which will be tested with banks, payment service providers, merchants and consumers.

The central bank says that its interest in a CBDC is part of the 'Digital Ghana Agenda' and a desire for a 'cashlite' society that can boost financial inclusion by facilitating payments without a bank account, contract or even smartphone.

The pilot will look at the economic, regulatory and technical requirements of an e-Cedi and will involve a user group of diverse demographic and socio-economic backgrounds using different channels and form factors such as mobile apps and smart cards.

Ernest K Y Addision, governor, Bank of Ghana, says: “CBDC presents a great opportunity to build a robust, inclusive, competitive and sustainable financial sector, led by the Central Bank."

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