Bank of Ghana sets out strategic vision and key design features for the eCedi digital currency

In a keynote presentation at the CEDI@60 International Currency Conference, the Bank of Ghana outlined its strategic vision for the eCedi, positioning it as a central-bank-issued digital representation of the Ghanaian cedi intended to complement the existing payments ecosystem. The central bank framed the initiative as a response to the growing centrality of digital payments and as a way to provide a secure, sovereign and interoperable digital payment option. The presentation highlighted Ghana’s payments infrastructure evolution and pointed to the shift in transaction activity, noting that mobile money transactions rose from 3.4% of RTGS transaction value in 2015 to nearly half by 2024. The eCedi was described as being issued and regulated by the Bank of Ghana, usable through digital wallets and mobile platforms, and designed with offline payment capability to support use without internet access. Expected outcomes cited included improved payment efficiency and resilience, enhanced financial inclusion through low-cost channels, stronger security and traceability to help reduce fraud and illicit activity, support for fintech-led innovation, and improved monetary policy transmission. Key implementation challenges identified included digital literacy gaps, cybersecurity risks, connectivity and device constraints, and data protection, with mitigants including digital literacy programmes, high security standards such as separating issuance and distribution modules, and strong data protection policies.