Assessing the potential of the eCedi in creating financial freedom for Ghanaians
Abstract
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
Description
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.
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Citation
Quarshie, N. Y. (2022). Assessing the potential of the eCedi in creating financial freedom for Ghanaians. Ashesi University, Berekuso.50pgs.