Ghana has begun to appease the industry, saying it will guarantee the operation of its existing mobile money business ahead of the introduction of the central bank’s digital currency (CBDC) “eCedi.”

According to Bitcoin Dotcom on the 4th (local time), Clarence Blay, deputy director of fintech and innovation at Ghana’s central bank, said it will ensure that the operation of mobile money operators (MNO) will not be suspended.

Mobile money is a digital currency that allows electronic payments through applications in mobile phones without a bank account. It is distinguished from digital wallets and mobile banking in that it uses services through mobile carriers, not banks.


As of February 2021, Ghana’s mobile money accounts were 40.9 million, up nearly 50% from the same period last year. Considering Ghana’s population (about 31 million), it has more than one account per population.

One of the important principles of digital currency eCedi is to supplement the operation of existing mobile money, Blay said. “eCedi improves mobile money services without replacing existing platforms.”

In addition, he added that CBDC will achieve financial inclusion while increasing the use of mobile money.

Earlier, Ghana has been conducting CBDC pilot tests since September last year. However, in August this year, Blay’s deputy director revealed that eSedi has nothing to do with blockchain technology.