Tokenising government securities could attract more foreign investors to Ghana – WeWire CEO

Ebenezer Ghanney, CEO of WeWire, suggests that tokenising Ghana's government securities could entice more foreign investors to the domestic market, broadening the government's funding sources. He believes digital tokens linked to government bonds and Treasury instruments could help overcome traditional obstacles that hinder foreign participation in Ghana's financial market.

Speaking at the Africa Virtual Assets Summit (AVSA) in Accra, Ghanney highlighted government securities as potentially easy to tokenize due to existing market structures and custody arrangements. He explained that tokenisation would enable investors abroad to buy Ghanaian government securities through digital platforms, bypassing some conventional market access procedures.

This could expand the pool of potential investors for the government and generate more opportunities for capital raising. Ghanney stressed that regulatory oversight would be crucial to instilling public confidence in tokenized financial products. He mentioned that WeWire's involvement in the Securities and Exchange Commission's regulatory sandbox is aiding the company in preparing its products for a broader public launch.

The regulatory sandbox provides a safe space for selected businesses to test innovative financial products under regulatory supervision, ensuring they are developed within an appropriate regulatory framework before being made available to a wider market.