Real estate developer and businessman, Nana Kwame Bediako, has called on the Central Bank to prioritise the woes of Ghana’s falling currency above his upcoming financial innovation.
This comes in the wake of a caution from the Bank of Ghana to prospecting investors against a yet-to-be-launched new cryptocurrency named Freedom Coin.
The Bank insisted that the said coin and other cryptocurrencies have not been licensed for operation in the financial space.
“It has come to the attention of Bank of Ghana that there is an impending launch of a cryptocurrency named “Freedom Coin”. The public is hereby cautioned that neither this cryptocurrency nor the promoting company has approval from Bank of Ghana to operate in the banking and payment sector,’” portions of the BoG’s March 9 notice read.
As of Thursday, the cedi was selling at ¢7 to the US Dollar, a situation many have said is affecting the cost of doing business in the country.
The businessman, also known as Freedom Jacob Caesar, insists these are the issues that should engage the attention of the Bank of Ghana.
“Good morning Ghana our cedi is depreciating almost 8 cedis to a dollar. I think the Bank of Ghana has more to worry about than a Freedom coin that’s not even launched,” he tweeted earlier today.
Good morning Ghana our cedi is depreciating almost 8 cedis to a dollar. I think the Bank of Ghana has more to worry about than a Freedom coin that’s not even launched. 🤩— Freedom Jacob Caesar (@iamfreedom) March 10, 2022
The Bank of Ghana has announced that it has not granted approval for the use of a cryptocurrency named “Freedom Coin” in the banking and payment sector.
Back in August, 2018, the Central Bank discouraged Ghanaians against the use, holding, and trading of virtual or digital currencies within the cryptocurrency space.
- Social media reacts to KT Hammond’s criticism of youth who hooted at Akufo-Addo
- ‘I get only ¢47 as pension’ – Nkrumah’s bodyguard laments life after president’s death
- “Very frustrating” – Asamoah Gyan on Black Stars midfielders not passing to strikers
- Footage for Akufo-Addo’s tourism video was acquired legitimately from an agency – GTA on Kirani Ayat’s theft claims
- “We shall also be blessed with Ghana Miracle” – Finance Minister speaks on economy recovery
- Finance Minister to announce 5-member committee as part of moves to protect financial system
- ‘They were cheering him’ – Okraku-Mantey on Akufo-Addo’s booing at Global Citizen Festival
- ‘I buy my own fuel’ – Deputy Tourism Minister
- The art exhibition that took Christian rituals literally brutal
- Cocoa farmers threaten to ‘smuggle’ product to Ivory Coast if producing price is not increased
- GFA suspends AshantiGold SC for dealing with banned club president and son
- Commercial banks support BoG decision to deny Mobile Money loan defaulters access to future credit
- Ghana will transition from fossil fuel to renewable energy by 2070 – Bawumia
- Religious leaders demand a Non-Proliferation Treaty on fossil fuels now
- Trade Ministry reiterates commitment to promoting intra-Africa trade
- Indian Official mocks schoolgirl’s sanitary pad request
- Ghana’s return to capital market may take 3 years – Ofori-Atta
- Today’s front pages: Thursday, September 29, 2022
- ‘Marriage is not about ministry’ – Counselor tells pastors
- Gangsta’s Paradise rapper, Coolio dead at 59
- I support Kirani Ayat’s copyright case against GTA, Tourism Ministry – Sarkodie
- Measures implemented to contain cedi depreciation paying off – Government
- Merqury Republic calls for registration for 2022 Ghana DJ Clinic
- We’ll fast-track IMF negotiations to ensure key aspects of programme is captured in 2023 budget – Ofori-Atta
- KNUST Mastercard Foundation scholars urged to use social media to boost entrepreneurial activities