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Ghana to Test CBDC With German Banknote Printer Giesecke+Devrient

The digital cedi will be tested with banks, payment service providers, merchants, consumers and other stakeholders.

By Tanzeel Akhtar
Updated Sep 14, 2021, 1:38 p.m. Published Aug 11, 2021, 12:00 p.m. 1 min read
Ghanaian cedis
Ghanaian cedis

The Bank of Ghana plans to test a central bank digital currency (CBDC) in partnership with German banknote printer Giesecke & Devrient.

  • The central bank said Wednesday that Giesecke & Devrient will be providing the technology for the currency, the digital cedi.
  • Munich-based Giesecke & Devrient provides banknote and securities printing services as well as cash-handling systems.
  • The CBDC will be tested with banks, payment service providers, merchants, consumers and other relevant stakeholders.
  • In July, Bank of Ghana First Deputy Gov. Maxwell Opoku-Afari said the last phase before implementation of a digital cedi is “expected to start by September.”
  • No definitive timeline for the potential launch of a digital cedi has been given.

Read more: Ghana’s Central Bank to Pilot CBDC in September, Calls It ‘Cash on Its Own’: Report

GermanyGhanaCBDCsCentral Bank of Ghana

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