Ghana is set to begin licensing cryptocurrency platforms in response to a surge in demand for digital assets in the West African country, Bloomberg reported on Thursday.
The country’s central bank is finalizing a regulatory approval to submit to parliament by September, according to the report, citing an interview with Bank of Ghana Governor Johnson Asiama.
The hope is that regulating the crypto sector will help the Ghana capture revenue and better control its fiat currency. The cedi has grown over 40% against the U.S. dollar in 2025, helping it recover from a loss of nearly 20% last year. This volatility has made it difficult for the central bank to manage inflation.
The use of cryptocurrency can exacerbate this problem as many agents are making and receiving crypto payments which are not being captured in the country’s financial accounts, Asiama added.
Around 17.3% of Ghanian adults own cryptocurrency, equivalent to just over 3 million people, according to a June 2024 report by Middle East-based business news firm Zawya.
Crypto transactions in Ghana in the 12 months to June 2024 totaled $3 billion out of a total $125 billion for the whole of sub-Saharan Africa, said Del Titus Bawuah, chief executive officer at Web3 Africa Group, according to Bloomberg’s report.