Friday, December 31, 2021

Take advantage of e- currency in Ghana – business moguls urged

Financial sector Specialist, Donatus Kuuzume, has admonished the public, especially the business world, to take advantage of the opportunities presented by the introduction of the digital currency in Ghana.

According to him, the digital currency penetration will offer a lot of Ghanaians the chance of operating a bank account just like the introduction of mobile money.

Mr. Donatus Kuuzume was speaking at a seminar recently under the auspices of the Business School of the University of Education Winneba, on the theme, “The role of digital currency in the Ghanaian economy: The way forward.

He explained that digital currencies have recently emerged as a hot topic in the financial space, with Banks, institutions and governments conducting a research and analysis on the economic and technical feasibility of introducing a new form of digital money and its impact on monetary and fiscal policy.

The Financial Expert revealed that just like with the introduction of any service, there might be challenges but the benefits of digital currencies far exceed the disadvantages.

He said, Ghana is in the process of piloting the scheme adding, that, countries like the Bahamas, Jamaica and China have already rolled it out.

On his part, the Vice Dean of the School of Business of the University of Education, Winneba, Dr. Joseph Ato Forson who chaired the programme at the Jophus Anamuah Mensah conference Centre, said Ghana cannot wait to be left out in this digital currency revolution.

He indicated that already, the Bank of Ghana has issued a directive on how to pilot the policy.

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Dr Forson opined that, the introduction of the digital currency will facilitate business transactions thereby boosting the economy adding, that financial institution will benefit immensely by reducing the cost of doing business.

He noted that a central bank digital currency increases the safety and efficiency of both wholesale and retail payment systems, it could also facilitate a quick settlement of retail payments and improve the efficiency of making payments at the point of sale or between two parties.

Also on the program was Mr. Gad Ocran, a financial transformation analystHe charged the students to be abreast with technology in this changing world as employers seek to engage those with knowledge in the technology to boost their businesses and be competitive.

The Dean of the School of Business, Prof. Braimah Imurana Awaisu entreated the students to develop the right attitudes in other to fit into the world of work.

He said it is in this light that the School held the seminar and promised to continue to hold seminars and conferences to guide them to know what industry looks out for.

Prof. Braimah asked the participants to respect time at all times to be able to succeed.

Ghana | Atinkaonline.com

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