Ghana’s transition toward a cash-lite economy could significantly reduce the expenses associated with replacing physical currency, according to Godfred Bokpin, a professor of finance at the University of Ghana Business School.
The economist highlighted that lowering reliance on physical notes and coins would streamline future currency redesigns, which are often costly and logistically complex for emerging markets.
The comment comes as Ghana continues to implement structural reforms aimed at stabilizing its macroeconomic framework.
While the country has made progress in settling external debt ahead of schedule, economists caution against viewing these steps as a sign of full recovery.
The push for digital payments and reduced cash usage aligns with broader efforts to improve monetary policy transmission and financial inclusion.
Market participants are closely watching the Bank of Ghana’s next Monetary Policy Committee meeting, where the benchmark rate is expected to remain unchanged.