In a keynote address at MOBEX Africa’s 10th anniversary Tech Innovation Conference Awards in Accra, the Bank of Ghana set out its “inclusion-through-innovation” priorities for a payments system that is now predominantly digital, combining strengthened payment rails and market conduct expectations with evidence-led work on a retail central bank digital currency and a clearer framework for virtual assets. The Bank pointed to the scale of mobile money adoption, with over 24 million users and GHS3.02 trillion in transactions in 2024, representing a 57% increase year on year and around half of Ghana’s formal payment flows. Its agenda includes strengthening instant payment rails, ensuring full interoperability across wallets and banks, improving agent-network quality and tightening the complaints framework. On the eCedi, it reported piloting the retail CBDC in both offline and online modes, with design priorities including offline functionality, privacy, tiered KYC and merchant viability. The speech also noted that, together with the Securities and Exchange Commission and the Financial Intelligence Centre, the Bank has completed a Virtual Asset Service Providers Bill that introduces licensing, capital requirements and AML/CFT provisions including the Travel Rule, alongside plans to expand regulatory sandbox cohorts while embedding cybersecurity, AML/CFT readiness and market-conduct expectations. Next steps highlighted were the Virtual Asset Service Providers Bill advancing to Parliament and any eCedi full rollout being contingent on demonstrated outcomes and operational readiness.
Bank of Ghana 2025-10-22
Bank of Ghana outlines inclusion-through-innovation agenda, citing eCedi pilots and a virtual asset service provider licensing bill heading to Parliament
The Bank of Ghana outlined its "inclusion-through-innovation" priorities at the MOBEX Africa Tech Innovation Conference, focusing on digital payments, a retail CBDC, and virtual asset regulation. Initiatives include enhancing payment rails, interoperability, and agent-network quality, alongside piloting the eCedi with offline functionality and privacy features. In collaboration with the Securities and Exchange Commission and the Financial Intelligence Centre, the Bank has completed a Virtual Asset Service Providers Bill, including licensing and AML/CFT provisions.