• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

eCedi Pilot Reaches Milestone With GHS 473 Million in Transaction Value

11 months ago
in Business, Features, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

eCedi Pilot Reaches Milestone With GHS 473 Million in Transaction Value

The Bank of Ghana’s eCedi pilot has hit a major milestone, recording a total transaction value of GHS 473 million across more than 96,000 transactions as detailed in a report released on October 22, 2024.

The central bank’s digital currency (CBDC) initiative aims to explore the potential of eCedi as a complement to physical cash in an effort to enhance financial inclusion and modernize the country’s payments infrastructure.

The pilot, which tested the currency in both urban and rural settings, involved Financial Service Providers (FSPs) and their customers, with field tests conducted in Accra, Tarkwa, and Sefwi Asafo. The majority of transactions were executed online, but a small proportion took place offline, highlighting the eCedi’s potential to reach areas with limited internet and telecom services.

According to the report, 0.475% of the transactions were conducted offline, demonstrating the system’s capability to function in areas with poor connectivity—a critical element of the Bank of Ghana’s strategy to extend digital financial services to underserved regions.

Sefwi Asafo, a rural community in the Western-North region, was chosen as the testing ground for the eCedi’s offline use. A total of 173 participants in the area engaged in transactions without access to mobile or internet services, confirming the feasibility of using digital currency even in off-grid locations.

This capability is especially significant in a country where mobile money and cash dominate the payments landscape, particularly in rural areas with patchy network coverage. The pilot’s success in Sefwi Asafo underscores the importance of offline functionality in ensuring that digital currencies can serve as a viable payment method across diverse economic environments.

RelatedPosts

Why Women Must Be Involved In Building Flood Resilience

African Development Bank Group and Michael Bloomberg to Drive Private Investment into Africa

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion

The report highlighted broader implications for the eCedi, positioning it as a potential driver of financial inclusion and more efficient payment systems. By bridging the gap between the formal financial system and rural populations, the eCedi could improve access to financial services for those who remain excluded from traditional banking.

With the pilot yielding promising results, the Bank of Ghana is now contemplating the next phase of development, potentially moving towards a full-scale rollout of the eCedi.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

AI in Africa: 5 Issues That Must be Tackled for Digital Equality

ECG Posts Record Monthly Revenue of GHS 1.74bn for July

IMF Urges Lebanon to Deepen Reforms Amid Fragile Rebound and Banking Sector Challenges

GCB Bank Outlines Post-IATF Path to Powering Africa’s Trade Future

AGI Raises Alarm Over Weak Consumer Demand Despite Signs of Economic Recovery

Lead, Mercury Found in Turmeric, Tom Brown and Others – FDA Report

Trending

Features

Why Women Must Be Involved In Building Flood Resilience

September 26, 2025

Why Women Must be Involved in Building Flood Resilience Women carrying children through chest-deep waters, families watching...

African Development Bank Group and Michael Bloomberg to Drive Private Investment into Africa

September 26, 2025

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion

September 26, 2025

AI in Africa: 5 Issues That Must be Tackled for Digital Equality

September 26, 2025

ECG Posts Record Monthly Revenue of GHS 1.74bn for July

September 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.