Managing Director of Ecobank Ghana, Abena Osei-Poku, has affirmed that the successful rollout and full integration of the E-Cedi, alongside broader digital payment reforms, will play a pivotal role in fortifying Ghana’s monetary independence and reducing reliance on foreign currencies.
Her remarks align with recent statements by the Governor of the Bank of Ghana, Dr. Johnson Asiama, who announced intensified measures to curb dollarisation and reinforce the Ghanaian Cedi as the sole legal tender. Dr. Asiama warned that the growing trend of currency substitution poses a significant risk to the long-term stability of the national economy.
Speaking at the Currency Anniversary Conference in Accra on Tuesday, November 18, 2025, as part of the Cedi@60 celebrations, Madam Osei-Poku said Ghana’s ongoing work in payment modernisation and digital currency development reflects a strong commitment to building a resilient financial system. According to her, digital innovation—particularly the E-Cedi—offers Ghana a strategic advantage.
“Digital innovation, especially with the introduction of the E-Cedi, would strengthen sovereignty in a number of ways. First, it will reduce the over-reliance on foreign currency and private payment systems,” she said. “Remember the government mentioned that it wants the Cedi to be the unquestioned medium of exchange in the country.”
She further explained that the E-Cedi would help mitigate risks associated with unregulated private digital currencies, noting that the rise of crypto assets poses challenges to regulatory oversight and financial stability. At the moment, we see a lot of digital currencies—crypto and others—which create challenges for regulators. The beauty of having a digital currency like the E-Cedi is that it provides an option that is secure and risk-free. Unlike many digital currencies that face system failures, this is much safer,” she said.
Madam Osei-Poku added that countries such as Nigeria have demonstrated how central bank digital currencies can improve regulatory oversight. “We also learnt from the likes of Nigeria and other countries with digital currencies that it gives the central bank better visibility and control over the entire payment ecosystem,” she said.
Source: William Narh
