Giesecke+Devrient plans more African digital currencies as Ghana pilot continues

By David Whitehouse
Posted on Thursday, 21 July 2022 06:00

Man trades U.S. dollars for Ghanaian cedis at a currency exchange office in Accra
Reduced forex revenues are among the risks to banks from e-cedi introduction. REUTERS/Francis Kokoroko

German payments solutions provider Giesecke+Devrient (G+D) is planning further central bank digital currencies in Africa as preparations for the launch of the digital cedi in Ghana continue.

The company has been awarded a new project for a central bank digital currency (CBDC) in an unnamed African country, Wolfram Seidemann, CEO of G+D currency technology, tells The Africa Report. The company is in discussions with central banks across all parts of the continent, he says.

The project awarded outside Ghana will be announced in about six months, Seidemann says. The agreement for the initial design phase has been signed, and he hopes this will lead on to pilot and rollout phases.