By continuing to use the site, you agree to the use of cookies. You can find out more by following this link Business News of Tuesday, 2 January 2018 Vice president of Group Nduom, Papa-Wassa Chiefy Nduom has urged the Bank of Ghana to diversify its investment by placing some of its funds in bitcoin.

He urged the central bank to invest about one percent of Ghana’s reserves in bitcoin. Mr Ndoum said, “I don’t think it’s a gamble, I think every investment is a gamble, getting out of your bed in the morning is a gamble.

If you are completely preoccupied with risk you won’t do anything… in terms of managing reserves there is potentially a new reserve asset and as a central bank, you need to study blockchain. He said, “Everybody agrees with that now…IMF and the rest, they’ve all said blockchain is potentially disruptive technology.

Some people think it will get rid of banks. So as a central bank, you’ve got to pay attention.”
In an exclusive interview with JoyBusiness, Mr Ndoum said Ghana can have a lot of foreign exchange with the right investments in the digital currency.

He said, “On the investment case, for a central bank, especially for a country that needs to come up with solutions, we need more funding for investments and my view is, by making that investment and by signalling that it’s an enabling environment for investments. For example, if the exchange is domiciled in Ghana trades in the digital currency will not be subject to tax or capital gains but will tax the profit that the exchange is made. Read more from…

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