BUSINESS TECHNOLOGY MEDIA FOR AFRICA

Ghana joins Better Than Cash Alliance

Ghana joins Better Than Cash Alliance
Simnikiwe Mzekandaba
By Simnikiwe Mzekandaba, IT in government editor
01 Dec 2014

In a move to promote financial inclusion for all its citizens Ghana's government has joined the Better Than Cash Alliance.

The Better Than Cash Alliance works with governments, communities and the private sector to adopt the use of electronic payments.

The Alliance provides support to those who commit to the transition.

According to a statement by becoming a member of the Better Than Cash Alliance the West African nation's government commits to transition its programmes from cash to digital payments.

"For Ghana, the transition to electronic payments will bolster the effectiveness of fiscal operations through efficient receipts and payments, and security of government transactions. It will help to eliminate wastes and leakages and ensure a strong transaction audit trail," said Seth Terkper, Ghana's minister of finance.

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The statement reveals that Ghana plans to tap into the technical expertise offered by the Alliance and its members to accelerate the shift to digital payments and deepen financial inclusion for all Ghanaians.

Ghana's government also plans to digitise the salaries of government workers and eventually expand to other government programmes, reads the statement.

Dr Ruth Goodwin-Groen, managing director, Better Than Cash Alliance added, "Ghana's digital innovation is renowned and is reflected in this commitment to transition away from cash in all government payments... Electronic payments has great potential to increase people's access to financial services when designed appropriately and we look forward to seeing greater inclusion in Ghana."

"There is also strong evidence to show that integrating digital payments into the economies of emerging countries such as Ghana will promote broad economic growth and individual financial empowerment," she said.

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