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Elsie Awadzi: Bank of Ghana exploring the launch of digital currency  

The Bank of Ghana says the move is to further support the orderly development of the digital financial services landscapes

The Bank of Ghana (BoG) is currently exploring the launch of a digital currency in the country, Elsie Addo Awadzi, the second deputy governor of the BoG has said.

The move is in line with efforts by the central bank to digitise the financial sector in the wake of the recent banking sector clean-up.

Awadzi was speaking at the virtual Afritac West 2 Central Bank workshop in collaboration with the IMF’s monetary and capital markets department on Tuesday (6 April 2021).

“Governments are not left out as they pursue digitization of economies, while regulators are increasingly relying on more regulatory and supervisory technology to improve effectiveness, she said.

Awadzi added, “And more and more central banks including the Bank of Ghana are exploring the launch of central bank digital currency to further support the orderly development of the digital financial services landscapes.”

The three-day workshop on the theme “Building Fintech Resilience and Supervisory Capacity in West Africa” seeks to build regulatory and supervisory capacity in the sub region.

It also aims at creating the opportunity to strengthen cross-border cooperation in harmonizing approaches to regulating digital financial services, given the large number of financial institutions and fintechs that operate in multiple jurisdictions in the sub-region.

Fred Dzakpata

Asaase Radio 99.5 – tune in or log on to broadcasts online
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