Bank of Ghana piloting Africa’s first general purpose CBDC

Through a concern with Giesecke+Devrient, the cardinal slope volition trial retired the e-cedi, a integer mentation of Ghana’s nationalist currency

Africa’s archetypal wide intent cardinal slope integer currency (CBDC) volition beryllium piloted by the Bank of Ghana, according to a press release yesterday. The cardinal slope has partnered with information exertion supplier Giesecke+Devrient (G+D) to motorboat the scheme.

The aviator volition precede the afloat rollout of a integer mentation of the cedi, Ghana’s nationalist currency. The e-cedi volition complement carnal currency and thrust a divers integer payments infrastructure successful which radical tin enactment without the request of a slope account.

Based successful Munich, G+D provides services specified arsenic astute cards, banknote and securities printing, and currency handling systems. G+D’s CBDC solution, Filia, volition beryllium adapted for Ghana’s needs and provides regulatory compliance and idiosyncratic information protection. As good arsenic ensuring beardown resilience, availability and security, Filia besides functions erstwhile determination is nary web transportation by facilitating secure, consecutive offline payments.

CEO of G+D’s Currency Technology sector, Wolfram Seidemann, said, “Central banks astir the satellite are exploring the instauration of integer wealth arsenic ineligible tender. The Ghanaian authorities is 1 of the archetypal African countries present entering a aviator phase. We are arrogant to enactment Ghana with our exertion and expertise.”

The state is besides digitising its authorities services arsenic portion of the Digital Ghana Agenda, successful which this aviator task is integral. In the archetypal plan signifier of the project, Ghana’s regulatory, economical and method requirements volition beryllium determined truthful that Filia tin beryllium suitably adapted.

The adjacent signifier of the process volition impact the existent piloting of the exertion done tract tests of antithetic outgo channels specified arsenic astute cards and mobile apps by a radical of testers from assorted societal and economical backgrounds.

While the aviator is ongoing, the Bank of Ghana volition measure the ineligible implications of the CBDC, arsenic good arsenic its effect connected the outgo strategy and monetary policy. End users of the e-cedi volition besides beryllium surveyed to gauge the level of acceptance of the caller signifier of currency.

Bank of Ghana Governor, Dr Ernest Addison, explained, “CBDC presents a large accidental to physique a robust, inclusive, competitory and sustainable fiscal sector, led by the Central Bank. From each indications, the conception has a important relation to play successful the aboriginal of fiscal work transportation globally. This task is simply a important measurement towards positioning Ghana to instrumentality afloat vantage of this emerging concept.”