The Bank of Ghana (BoG) has announced a partnership with a German currency technology firm, as it continues pushing towards its central bank digital currency (CBDC). According to an official BoG announcement, the apex bank has signed an agreement with Giesecke+Devrient (G+D).
G+D is a company that provides solutions for payments, identity, connectivity, and digital security. The partnership between both entities is to pilot the BoG’s CBDC in Ghana. The test will involve merchants, payment services providers, local banks, consumers, and related entities.
The partnership also furthers Ghana’s efforts towards the “Digital Ghana Agenda”, the country’s plan to digitize data and government services.
The CBDC is the e-cedi or digital cedi, and simply provides an alternative to the traditional cedi currency, and not a replacement. The BoG’s announcement also specifies that the plan is to make e-cedi transactions possible without a contract, smartphone, or bank account.
According to Giesecke+Devrient Currency Technology CEO, Dr. Wolfram Seidemann, the company is happy to offer its expertise to Ghana as it embarks on the project:
“Central banks around the world are exploring the introduction of digital money as legal tender. The Ghanaian government is one of the first African countries now entering a pilot phase. We are proud to support Ghana with our technology and expertise.”
Image Credits: Pixabay
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