Business News of Wednesday, 11 August 2021Source: www.ghanaweb.com• The Bank of Ghana has earned the first spot in Africa to pilot the continent's first Central Bank Digital Currency• The partnership agreement is with German firm, Giesecke+Devrient• G+D will provide the technology and develop the solution adapted to Ghana’s requirements to be tested in financial institutionsThe Bank of Ghana has entered into partnership agreement with German firm, Giesecke+Devrient to pilot a first general-purpose Central Bank Digital Currency (CBDC) in Africa. In the design phase, all framework parameters for the CBDC pilot will be specified and defined. Over the course of the pilot project, a study will be conducted on the acceptance of the e-Cedi from the end users' perspective. Governor of the central bank, Dr Ernest Addison, reacting to the development stated that CBDC presents a great opportunity to build a robust, inclusive, competitive and sustainable financial sector, led by the Central Bank. He made the disclosure that, "the Ghanaian government is one of the first African countries now entering a pilot phase.

Source: GhanaWeb August 11, 2021 11:02 UTC