Ghana Central Bank Will Make CBDC Available to Offline Users

According to a bank official, the central bank of Ghana wants to make its digital currency, e-cedi available to offline users.

Hurdle of Limited Power in Ghana

Kwame Oppong (head of fintech and innovation at Bank of Ghana) said that the e-cedi will facilitate transactions without the use of power or connectivity.

The availability of power and connectivity is a limitation to financial inclusion. Oppong explains that what we want to be able do – and this is something we are pioneering – is that the electronic cedi could also be used offline through some smart cards.”

According to World Bank Data, only half of Ghana’s population had internet access in 2019. This is what prompted the Bank of Ghana (BoG) to search for a solution.

The Ghanaian central banks had planned to launch e-cedi in September. It is not clear if the digital currency was launched. The status of the eCEDIA was not confirmed by a member from Ghana’s Blockchain Association at the time the news was published.