Ghana Foresees a Cashless Economy with its New CBDC Pilot Program

The Bank of Ghana is teaming up with Giesecke+Devrient (G+D) to launch a Central Bank Digital Currency pilot program. This move could make Ghana the first African country to unleash its digital currency.  According to a press release, the collaborative effort will test the issuance of a general-purpose CBDC dubbed as Cedi through various stakeholders, including banks, consumers, merchants, payment providers, and many more. The gradual transition towards a cashless economy is part of the Digital Ghana Agenda, which plans…