Ghana to Test CBDC With German Banknote Printer Giesecke+Devrient

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