Money is dangerous ... to carry. You could lose it, or lose your life over it, right? So the Bank of Ghana introduced a debit card that you could ‘load with your money’ and use for all transactions. Ain’t that cute? But it failed.
Why did it fail? Culture!
Many years ago in Europe, the currency was gold. Then bankers came up. They took in your gold and wrote an acknowledgement on paper, and a promise to give back your gold whenever you presented your IOU. Because the IOU was backed by gold, traders accepted it as payment for goods and services. That paper evolved into cash.
After the Colonialist has taught the Ghanaian to accept paper in place of cowries or shells or cola as money, somebody gets up and says let’s now use plastic. We will put all your money on the plastic and you can pay for anything with it. I look at my wad of 1000 Cedis and wonder how you can put it all on a little plastic card. No Sire, I beg your pardon.
So the card failed. Many have one in their pocket. It’s as light as the wind and as empty as a vacuum. Next time anybody wants to change a system of doing things, let them not ignore history and culture. Smh.
(Picture Credit - Countingoncurrency.com)