Assessing the potential of the eCedi in creating financial freedom for Ghanaians

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The recent spurt of interest in digital currencies has spurred many Central Bank’s to create some form of digital currency in a bid to regulate the largely unfettered usage of digital currencies. As such Ghana’s Central bank’s financial technology (fintech) department has set out to create a new digital version of the Ghana cedi. However, it is important to note that the benefit it is purported to provide is largely based on existing methods of cashless payments such as Mobile money. As such, the purpose of this study was to explore the potential for wealth creation that is purported to be brought by the advent of the proposed eCedi. The study was largely predictive as the eCedi is still in its initial phase and relies heavily on subjective evidence as well as existing evidence. This information will be useful to the public who may be interested in knowing the potential impact of this currency so they can adopt it. The research design was based on a qualitative survey approach. A total of 6 individuals in Ghana’s financial space were queried on the potential impact of the eCedi. This data was then analyzed and grouped into themes which were identified as; implementation of the digital currency, benefits of central Bank digital currencies, mechanics of the eCedi and the Impact of the eCedi. By analyzing the responses from the interviewed persons, the research is able to show how best the eCedi could be implemented into day-to-day activities. Furthermore, recommendations were made concerning the research and for further research
Thesis submitted to the Department of Business Administration, in partial fulfilment of the requirements for the award of Bachelor of Science degree in Business Administration.
Quarshie, N. Y. (2022). Assessing the potential of the eCedi in creating financial freedom for Ghanaians. Ashesi University, Berekuso.50pgs.