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Ghana Pilots Cedi-Based Payments for Imports from China
Ghana is exploring ways to enable importers to pay for goods from China using Ghana cedis rather than relying directly on US dollars.
The governor of the Bank of Ghana, Dr Johnson Asiamah, disclosed that some banks were already piloting arrangements to facilitate such transactions.
He cited Stanbic Bank as one institution piloting a programme that allows Ghanaian importers to make payments in cedis for imports from China.
“If you want to buy anything from China, just go to Stanbic Bank with your cedis, and you are able to do that,” he said.
The governor said Ghana Commercial Bank was also preparing a similar initiative.
The development comes amid expanding trade relations between Ghana and China.
Dr Asiamah said the Bank of Ghana was taking the development seriously and would continue engaging with relevant financial institutions.
He also noted that Ghanaian authorities would engage China over its zero-tariff regime and explore opportunities arising from the policy.
The Governor said the Bank of Ghana would continue working with its Chinese counterparts as part of efforts to strengthen bilateral economic relations.
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