Bank of Ghana’s (BOG) eCEDI has been declared winner of the Innovation in Digital Currency Design for Financial Inclusion at the 2024 Payment, Innovation and Technology Week held on September 23 – 26, 2024 in London, United Kingdom.
The BOG’s in a press release stated the award was an account of its impressive presentation of the eCedi design alongside its unique features including governance, accessibility, (online and offline), interoperability, and infrastructure to drive financial inclusion.
The bank in 2022 successfully piloted both online and offline use cases of the eCedi and how it could expand financial inclusion.
Additionally, the introduction of the eCedi seeks to meet the following strategic goals- increase digitisation of the Ghanaian economy, foster consumer adoption of digital payments and anticipate the future role of BoG as an active regulator and facilitator of a digital economy among others.
The Payments, Innovation and Technology Week, organised by Currency Research, aims to explore trends and research in digital currency use and Artificial Intelligence (AI) Applications for central banks.
The statement further noted that the “award was also in recognition of the Bank’s ecosystem engagement approach – participation of banks and payment service providers during the eCedi pilot together with the eCedi Hackathon and during the live trial experience of the eCedi during the 3iAfrica Summit”.
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