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Dr. Bawumia, has emphasized the significance of Ghana’s shift to a cashless society and mentioned transparency as a potent weapon against corruption.
He emphasized the advantages of cashless communities, pointing out that more electronic payments result in improved traceability and decreased corruption.
Speaking to Ghanaians on Wednesday, the presidential candidate of the New Patriotic Party stated that he wished to combat corruption in addition to promoting economic growth by bringing Ghana swiftly to a cashless economy.
“I would like to bring Ghana close to a cashless economy in the shortest possible time. So far the Bank of Ghana has made a lot of progress in this direction by putting in place a lot of the systems and infrastructure required. These include mobile money interoperability, merchant interoperability, Universal QRCode payment system, Gh-Link, debit cards, Ezwich, and GhanaPay.”
“We have put in place the necessary infrastructure for Ghana to go cashless. Recently the Bank of Ghana has completed a pilot of a digital version of the Ghana cedi note in Sefwi Wiawso. This is known as central bank digital currency (CBDC) or e-cedi. The e-cedi is designed to work online and offline and will be launched by the Bank of Ghana in due course.”
“In my humble opinion, the e-cedi, with appropriate privacy protections, will be the ultimate weapon in our fight against corruption because it will provide transparency, reduce the risk of fraud, robbery, tax avoidance, and money laundering since it will be easy to track the movement of money and identify suspicious activity. The e-cedi will quicken the pace of Ghana’s move towards a cashless or near cashless society.”
Source: Ghanatodayonline.com
