The Bank of Ghana has reaffirmed its commitment to the eCedi project, insisting that plans for the country’s central bank digital currency remain active despite a slowdown in public updates on the initiative.
Speaking after the Monetary Policy Committee meeting, Governor Dr Johnson Asiama said the central bank has not abandoned the project and is instead preparing for additional pilot phases before considering a nationwide rollout.
“We have not abandoned the eCedi project,” Dr Asiama stated.
According to him, the next phase of the initiative will place strong emphasis on cross-border payments and regional trade, as the Bank explores how digital currencies can improve settlement systems for businesses operating across African markets.
“We are concerned about how we can deploy that for cross-border settlement to improve trade for businesses,” he explained.
The Governor noted that while the project has already gone through earlier testing stages, the Bank of Ghana believes more pilot programmes are necessary to fully understand the eCedi’s practical application, economic impact and security implications.
“We need more pilots for the eCedi to better understand its practical application and impact on the economy,” he added.
The eCedi forms part of the Bank of Ghana’s broader digitalisation agenda aimed at improving payment efficiency, expanding financial inclusion and strengthening Ghana’s digital financial infrastructure. The central bank has repeatedly stressed that the eCedi is intended to complement existing payment systems such as cash, mobile money and banking platforms rather than replace them.
The renewed attention on cross-border functionality comes at a time when African countries are pushing for faster, cheaper and more reliable payment systems to support intra-African trade under regional economic integration efforts.
For Ghanaian businesses, especially importers, exporters, fintech companies and small enterprises trading across borders, an effective eCedi framework could help reduce transaction costs, shorten settlement periods and improve transparency in payments.
However, analysts believe the success of the digital currency will depend heavily on strong cybersecurity systems, regulatory clarity, interoperability with existing payment platforms, financial sector preparedness and public trust in the system.
The Bank of Ghana says it will continue studying global developments in central bank digital currencies while engaging industry stakeholders and international partners to refine Ghana’s approach before any full implementation.
