Bank of Ghana to develop and test e-Cedi payment system – Vice President

The Vice President, Professor Jane Naana Opoku-Agyemang, has announced that the Bank of Ghana will soon begin developing and testing an electronic cash payment system, known as the e-Cedi.

She said the move forms part of government’s efforts to modernise the country’s financial sector and strengthen the use of technology in economic transactions.

The e-Cedi initiative was first explored in 2021 under the leadership of then-Governor Dr Ernest Addison. It is envisioned as a Central Bank Digital Currency (CBDC) that will serve as a digital alternative to physical cash.

Speaking at the launch of the 60th Anniversary Celebration of the Cedi in Accra on Tuesday, the Vice President highlighted the potential of the e-Cedi to enhance Ghana’s financial ecosystem.

“If the e-Cedi payment system is implemented, it will support the vision of a cashless economy, enhance financial inclusion, strengthen confidence in the cedi as Ghana’s sole legal tender, and ensure its continued relevance,” she said.

Professor Opoku-Agyemang noted that the rapid evolution of global finance makes innovation a necessity.

“Finance is evolving rapidly, and that is why the Bank of Ghana is developing and testing the e-Cedi — the digital form of our currency. Once fully implemented, it will modernise our payment system and secure a cashless future, ensuring the cedi retains its importance,” she stated.

The Vice President also urged the Governor of the Bank of Ghana and the Minister of Finance to work closely with businesses, banks, and innovators to ensure a smooth rollout of the new payment system.

She commended the Bank of Ghana, Deputy Governor Dr Johnson Pandit Asiamah, and Finance Minister Dr Cassiel Ato Forson for their roles in maintaining macroeconomic stability and public confidence in the national currency.

“Through prudent monetary policy and effective public engagement, the Bank has helped anchor expectations and restore a measure of credibility to our markets,” Professor Opoku-Agyemang remarked.

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Accra Academy has qualified to the semi-final stage of the 2025 National Science and Maths Quiz (NSMQ) after staging a great comeback to beat their opponents, PRESEC-Legon, in the quarter-finals.

A very challenging contest saw GSTS leading at the end of the Problem of the Day riddle with 7 points, followed by PRESEC-Legon and Kumasi High School with 4 and 2 points respectively.

However, the one-eight stage was a game-changer for the contestants as PRESEC-Legon took the lead after the True or False round with 5 points, followed by GSTS and Kumasi High School with 4 points each.

The final stage saw a tough contest between GSTS and PRESEC-Legon, with GSTS finally emerging victorious after securing 4 points in the Round of Riddles, 6 points in the True or False round, and 2 points in the Riddle Battle. PRESEC-Legon managed to obtain 2 points in the Round of Riddles, 1 point in the True or False round, and 1 point in the Riddle Battle.

The final results for this thrilling quarter-final contest ended with GSTS leading with 12 points, PRESEC-Legon following closely with 7 points, and Kumasi High School with 6 points.