- eCedi Project Remains Active as Central Bank Eyes Cross-Border Payments
The Bank of Ghana has assured that it has not abandoned the eCedi project, signalling that the central bank digital currency remains part of its long-term strategy to modernise Ghana’s payments ecosystem and support faster cross-border settlements.
Governor Dr Johnson Asiama said the Bank remains committed to the digital currency initiative but will undertake additional pilot programmes before any full-scale rollout.
“We have not abandoned the eCedi project,” Dr Asiama said after the Monetary Policy Committee meeting.
According to him, the central bank is particularly interested in how the eCedi could be deployed to facilitate cross-border settlements and improve trade for businesses operating within the sub-region.
“We are concerned about how we can deploy that for cross-border settlement to improve trade for businesses,” he said.
The assurance comes amid questions over the future of the eCedi, following a period of limited public communication on the project after earlier pilot phases.
Dr Asiama said while progress had been made, the Bank of Ghana wants to conduct further testing and stakeholder engagement to better understand the digital currency’s practical application, security requirements and potential impact on the economy.
“We need more pilots for the eCedi to better understand its practical application and impact on the economy,” he added.
The eCedi was introduced as part of the Bank of Ghana’s broader efforts to deepen financial inclusion, improve payment efficiency and strengthen the country’s digital financial infrastructure. It is expected to complement existing digital payment systems rather than replace cash, mobile money or bank-led payment platforms.
The renewed focus on cross-border use cases could give the project stronger regional relevance, particularly as African economies seek faster, cheaper and more reliable settlement systems to support intra-African trade.
For Ghanaian businesses, especially importers, exporters, fintechs and small firms trading across borders, a well-designed eCedi framework could potentially reduce settlement delays, lower transaction costs and improve payment transparency.
However, the success of the project will depend on regulatory clarity, cybersecurity safeguards, interoperability with existing payment platforms, financial-sector readiness and public confidence in the digital currency.
The Bank of Ghana said it continues to monitor global developments in central bank digital currencies while working with industry players and international partners to refine Ghana’s approach.
Ghana’s Digital Currency Project Still Alive, Governor Assures
