The Deputy Director of the Bank of Ghana (BOG) gave a particularly interesting speech during the stakeholder forum. Indeed, Clarence Blay who is in charge of fintech and innovation in the bank spoke about the many benefits of a CBDC. It must be said that the BOG is currently preparing for the launch of a CBDC in Ghana. But the authorities have concerns on this point and the BOG is trying to dispel them.
Kenya to adopt a CBDC after Ghana?
According a tweet from Bitcoin News on September 4, Clarence Blay said that “Some players in the Kenyan mobile money industry have “attested that e-cedi or CBDC will help reduce costs”“. The Deputy Director of the Bank of Ghana (BOG) made this statement in a specific context. He was talking about the implementation of a CBDC in Ghana. On this occasion, he also explained that Kenyan cryptocurrency operators believe that a CBDC could improve interoperability. According to them, a CBDC would also help enhance the efficiency of settlement systems.
Clarence Blay says implementing a CBDC will not affect the work of Ghanaian mobile operators. On the contrary, the e-cedi that the Ghanaian central bank wishes to develop should accelerate cross-border trade. Blay said:For the central bank, one of the key principles guiding the deployment of e-cedi is to complement existing mobile money operations. E-cedi will not supplant existing platforms, but rather enhance mobile money services, making them more dynamic and efficient.“.
According to the deputy director of the Bank of Ghana (BOG) and Kenyan operators, a CBDC would optimize mobile money services. It will stimulate mobile phone operators, which will contribute to financial inclusion.
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