The Bank of Ghana (BoG) is set to roll out the retail version of its central bank digital currency (CBDC), the eCedi, by the end of 2025.
This follows a two-year delay despite a successful pilot program.
Key quote
“It was an important feature for us to deliver because, at present, there is no commercial solution that allows for digital money to function in an offline environment. We wanted to create an instrument that allows people to live off-grid and use it as they would use cash.”
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- The Bank of Ghana, on the other hand, announced plans to develop the eCedi in 2021 and began testing an offline version later that year in Sefwi Asaafo, a small town in the country’s southwest.
- The governor of the BoG, Ernest Addison, said in 2023 that the bank had concluded a successful pilot of the eCedi but was choosing to hold off on the launch due to a ‘dislocation’ of the economy.
