The First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, says Ghana has the right digital foundations to successfully implement the eCedi, the country’s proposed Central Bank Digital Currency.
Speaking at the Cedi@60 International Currency Conference in Accra, Dr. Mumuni said the nation’s “robust national ID system, comprehensive digital addressing system, and well-established payments ecosystem” make Ghana uniquely positioned to adopt a digital currency at scale.
Delivering a keynote presentation on “The Digital Cedi – A Strategic Vision for Ghana’s Digital Currency,” he outlined the major developments in Ghana’s payment landscape; from early RTGS systems and the creation of GhIPSS to the rise of mobile money and interoperability; which he said have transformed the country into one of Africa’s leading digital payment hubs.
“Digital payments have moved from being peripheral to becoming a central pillar of our financial ecosystem,” he noted, adding that the rapid growth of mobile money transactions shows a clear shift toward faster, simpler, and more interoperable payment channels.
Dr. Mumuni said the eCedi is designed to build on these gains by offering a secure, central-bank-backed digital payment instrument that enhances inclusion, strengthens trust, and supports innovation. According to him, the eCedi will provide a more affordable digital payment option for underserved communities, make everyday transactions faster and safer, and improve transparency and security across the financial system.
He highlighted the eCedi’s offline functionality as a key feature to support areas with limited connectivity, and emphasised that strong cybersecurity standards and data protection policies will be essential in the rollout.
Despite Ghana’s readiness, Dr. Mumuni acknowledged challenges such as digital literacy gaps, uneven access to devices, and cybersecurity risks, calling for targeted literacy initiatives and robust technical safeguards.
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Positioning the eCedi as a “key pillar of Ghana’s digital future,” he said the digital currency will improve payment efficiency, strengthen monetary policy transmission, enhance financial resilience, and drive innovation among fintechs and MSMEs.
“The eCedi is not merely a new form of money; it is a strategic instrument for strengthening our financial system and advancing national development,” he said.
He added that the initiative will help Ghana maintain leadership in Africa’s digital finance landscape and contribute to building “a resilient, inclusive, and digitally driven economy.”
Source: Starrfm.com.gh
