The Bank of Ghana (BoG) has been awarded the prestigious “Innovation in Digital Currency Design for Financial Inclusion” at the 2024 Payment, Innovation, and Technology Week.
In a statement issued by the Communication Department of BoG, the event was held from September 23-26, 2024, in London, United Kingdom and the award was presented by Currency Research, an independent global provider of premium conferences on cash and payments.
The eCedi, Ghana’s digital currency, was recognized for its ground-breaking design that promotes financial inclusion.
According to the Bank, the judges were impressed with the BoG eCedi’s features, which include robust governance structures, easy accessibility for both online and offline transactions, interoperability with existing payment systems, and infrastructure designed to broaden financial inclusion in the country.
Key to the Bank’s win was its unique approach to engaging the financial ecosystem. This included:
- The participation of banks and payment service providers during the eCedi pilot.
- A public eCedi Hackathon that invited Ghanaians to showcase innovative ideas using the digital currency.
- A live trial of the eCedi during the 3iAfrica Summit, where participants were able to use the digital currency to pay for goods and services at the summit’s Digital Village.
“The Payments, Innovation, and Technology Week, organized by Currency Research, is a global forum exploring the latest trends in digital currency use and artificial intelligence applications for central banks”, the statement explained.
The event brought together central bankers, regulators, payment operators, and key stakeholders to discuss the future of cash and payments systems.
According to BoG, Currency Research is an independent leading global provider of premium conferences for central banks, regulators, payment operators and other key companies regarding the subjects of cash and payments.
“It aims at stimulating and encouraging thoughtful discussions to achieve global change. In addition to conferences, it also specialises in the provision of consultancy services and trainings on cash and payments and complements these activities with its thought-provoking publications and industry reports,” the statement concluded.
