The Central Bank of Nigeria has called on innovators in the fintech space to apply with the recently launched regulatory sandbox, with Ghana’s central bank announcing a similar project.
In a recent interview, the head of fintech at the Bank of Ghana backed state bank-backed digital currencies, saying that data generated by CBDC transactions optimizes credit opportunities.
The Bank of Ghana is seeking to avail the digital currency to as many Ghanaians as possible. As such, the bank is exploring how to make the e-cedi available offline, according to a central bank official.
The Bank of Ghana recently announced that it had partnered with a German firm for the design and implementation of the digital cedi.
The Ghanaian central bank is in advanced stages in its development of a central bank digital currency, with a pilot set to start in September.
Central bank governor Dr. Ernest Addison confirmed that the digital cedi project is now “in the advanced stages,” noting there is a need to approach the project in phases.