The Bank of Ghana (BoG), which is the Central Bank of Ghana, is well known on the African continent, and globally as a leading institution in continued evolution of the payments sector and organizational structure to meet the needs of the Ghanaian economy.
Speaking during a virtual stakeholder workshop on payment systems and service, the First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-afari, said that concepts like a Central Bank Digital Currency (CBDC) are interesting to explore and the evolving policies on branchless banking guidelines in the country offers it an opportunity to look in that direction.
The Bank of Ghana, which is the Central Bank of Ghana, has facilitated a modern and robust interbank payments systems through the Ghana Interbank Payment and Settlement Systems (GhIPSS), which includes the following systems:
The GhIPSS has helped establish interoperability between the above systems and established the foundation for a nationwide digital delivery of services.
The recent reiteration of the possibility of a CBDC is thus interesting and shows the ongoing efforts in this direction. This makes Ghana among a few countries in Africa, and the globe, seriously considering a CBDC for the economy.