On Monday, the Governor of the Bank of Ghana, Dr. Ernest Addison, told the press that Ghana’s work on a central bank digital currency (CBDC) is quite advanced.
“The Bank of Ghana was one of the first African central banks to declare that we were working on a digital currency and looking at the concept of an e-Cedi,” said Addison. “We are quite advanced in that process.”
He explained that there’s a need to approach the project in phases and outlined three stages prior to deciding to launch. These are a design phase, an implementation stage and a pilot phase. The design stage is advanced, and the current focus is on the implementation phase.
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