Vice President Dr. Mahamudu Bawumia has announced the government’s plans to introduce the E-cedi, a digital equivalent of the local currency, to combat money laundering and corruption. Apexnewsgh reports
The E-Cedi, conceptualized by the Bank of Ghana (BOG) in 2021, has completed its trial phase but faced delays due to economic disruptions.
Addressing the 14th Commonwealth Regional Conference for Heads of Anti-Corruption Agencies in Africa, Dr. Bawumia emphasized the importance of leveraging digital technologies in the fight against corruption. He highlighted the E-Cedi’s potential to track money and suspicious activity, providing high-level transparency and reducing the risk of fraud, tax avoidance, and money laundering.
The Vice President stated, “The CBDC (Central Bank Digital Currency) will be the ultimate weapon in our fight against corruption. The E-Cedi will make it easy to track the movement of money and identify suspicious activity.” He also outlined the government’s initiatives to safeguard financial integrity through the National Identification System.
The introduction of the E-Cedi is expected to revolutionize Ghana’s financial landscape, promoting transparency and accountability. The government’s commitment to harnessing digital technologies to combat corruption is a significant step towards a more secure and prosperous future for the nation.
Source: Apexnewsgh.com
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