In response to the growing popularity of digital assets, Ghana is poised to start issuing licenses to cryptocurrency platforms, as reported by Bloomberg on Thursday. The country's central bank is putting the finishing touches on a regulatory approval, which is set to be submitted to parliament by September, according to an interview with the Bank of Ghana Governor, Johnson Asiama. By regulating the crypto sector, the hope is to generate revenue and exert greater control over the country's fiat currency, the cedi, which has experienced significant volatility, appreciating by over 40% against the US dollar in 2025.
This fluctuation has made it challenging for the central bank to manage inflation. The use of cryptocurrency can further complicate this issue, as many transactions are not being captured in the country's financial records, Asiama noted. According to a report by Zawya, approximately 17.3% of Ghanaian adults, or around 3 million people, own cryptocurrency. Additionally, crypto transactions in Ghana totaled $3 billion in the 12 months leading up to June 2024, out of a total of $125 billion for the entire sub-Saharan Africa region, as stated by Del Titus Bawuah, CEO of Web3 Africa Group, in Bloomberg's report.