• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      event logo
      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Emerging Markets

Ghana to issue digital currency in 'near future'

Ghana to issue digital currency in 'near future'
  • Pedro Gonçalves
  • @PeterHSG
  • 28 November 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Ghana's central bank is considering the issue of a digital currency to complement the growth in electronic payment systems, such as mobile money.

The governor of the West African nation's central bank, Ernest Addison, said Ghana could issue a digital form of the nation's currency, the cedi, in the "near future" and is in talks to develop a pilot project in a "sandbox environment."

Related articles

  • Eastern Caribbean Central Bank in digital currency pilot
  • Crypto or Cryptic? Impacts of a growing industry
  • Mauritius wants to be Africa's fintech hub
  • South Africa to introduce crypto regulations

The Bank of Ghana governor stated that the CBDC pilot initiative is in line with the country's efforts to digitise the financial and banking sector.

The digital age provides enormous potential for the financial sector to re-orientate itself to satisfy the new consumer and business demands"

Addison said: "Digital financial technologies will continue to define the future of our banking experience," adding that the volume of mobile money transactions rose from 982 million in 2017 to 1.4 billion last year.

"This consistent growth pattern underscores the sustainable nature of opportunity for the banking sector," the governor added.

The Bank of Ghana governor also announced that the country's largest bank in terms of total operating assets - Ghana Commercial Bank (GCB Bank) - has been authorised to issue e-money.

"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.

There are currently 64 blockchain and cryptocurrency firms in Africa across 11 different sub-categories, including exchanges and wallets, according to research from specialised news outlet The Block Crypto.

 

Subscribe to International Investment's free, twice-daily, newsletter

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Emerging Markets
  • Cryptocurrencies
  • Ghana
  • Bank of Ghana
  • CBDC
  • GCB Bank
  • Africa
  • Crypto

More on Emerging Markets

Europe's wealth mangers increasingly focusing on Bitcoin: survey

  • Cryptocurrencies
  • 01 March 2021
Erratic Bitcoin leaves industry divided as Square invests $170m

  • Cryptocurrencies
  • 24 February 2021
Emerging markets funds 'in the vanguard' of ESG investing over next five years

  • ESG
  • 17 February 2021
Comment: A moment in emerging markets as risk premium returns

  • Comment
  • 04 February 2021
Comment: Are cryptocurrencies the new gold?

  • Comment
  • 19 January 2021
Back to Top

Most read

People moves: Phoenix Group, Franklin Templeton, TMF Group, AJ Bell, Arete, Just Group
People moves: Phoenix Group, Franklin Templeton, TMF Group, AJ Bell, Arete, Just Group
HSBC appoints CEO for the Middle East region
HSBC appoints CEO for the Middle East region
HSBC Malaysia appoints head of global banking
HSBC Malaysia appoints head of global banking
Nordic Fund Selector of the Year 2021 shortlist announced
Nordic Fund Selector of the Year 2021 shortlist announced
Europe's wealth mangers increasingly focusing on Bitcoin: survey
Europe's wealth mangers increasingly focusing on Bitcoin: survey
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading