Tokenising government securities could attract more foreign investors to Ghana – WeWire CEO
The Chief Executive Officer of WeWire, Ebenezer Ghanney, says tokenising Ghana's government securities could make it easier for international investors to access the domestic market and expand the government's sources of funding. He believes issuing digital tokens linked to government bonds and Treasury instruments could reduce some of the traditional barriers that make it difficult for foreign…
Ebenezer Ghanney, Chief Executive Officer of WeWire, posits that tokenising Ghana's government securities could potentially entice more foreign investors to the domestic market. By digitising government bonds and Treasury instruments, Ghanney believes these traditional barriers could be mitigated, thereby expanding the funding sources for the government.
At the Africa Virtual Assets Summit (AVSA) in Accra, Ghanney noted that government securities are an accessible product for tokenisation, given that the requisite infrastructure already exists. He underscored that while gold tokenisation necessitates meticulous custody arrangements, government securities do not. This ease could facilitate foreign investors from nations like China and the United States to purchase Ghanaian government securities through digital platforms, bypassing conventional processes.
Ghanney argued that tokenisation could broaden the investor base for the government and generate additional capital-raising opportunities. He emphasized that regulatory oversight would be crucial in fostering public confidence in tokenised financial products. Ghanney explained that WeWire's involvement in the Securities and Exchange Commission's regulatory sandbox was instrumental in preparing its digital assets for a broader market release.
He highlighted that this sandbox allows selected businesses to test innovative financial products under regulatory supervision, ensuring compliance with an appropriate regulatory framework prior to wider market availability.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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