The Central Bank of the Republic of Guinea (BCRG) is pursuing digital solutions to address a severe liquidity crisis that has gripped the country for several months.
On Tuesday, August 26, 2025, the bank convened electronic money institutions (EMIs) for a strategic meeting aimed at finding sustainable solutions to the challenge.
First Deputy Governor El Hadj Mohamed Lamine Conté highlighted the scale of the problem: “94% of banknotes in circulation are escaping the banking system, hoarded by economic actors.”
This situation has led to empty counters and ATMs, despite repeated cash injections by the Central Bank.
In response, the BCRG is advocating for accelerated digitalization of payments as a long-term solution. The Association of EMIs has backed this approach, describing the crisis as “a historic opportunity” to expand banking access, following models successfully implemented in other African countries.
Proposals discussed during the meeting include increasing transaction limits, mandating that economic operators process transactions through formal banking channels, and enhancing interoperability between different payment systems.
The Central Bank has urged EMIs to formalize these recommendations for coordinated implementation.
“Finding lasting solutions means ensuring sustainable development for our country and charting a clear path for future generations,” said Deputy Governor Conté.
The BCRG aims to create a more inclusive and resilient digital financial ecosystem, reducing dependence on cash and improving access to banking services across Guinea. Officials believe that by leveraging digital payments, the country can not only resolve the current liquidity shortage but also lay the foundations for long-term economic stability.
Stakeholders in the sector are now tasked with ensuring that digitalization initiatives are rolled out effectively, enabling smoother financial flows, supporting businesses, and restoring public confidence in the banking system.
If successfully implemented, these measures could transform Guinea’s monetary landscape, positioning digital finance at the centre of economic growth and resilience in the years ahead.
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