Ghana moves to modernise government payments with new digital framework

By:  Robert Kwaku Annor

The Ghana Association of Banks has reaffirmed its commitment to strengthening financial sector efficiency following the signing of a Service Level Agreement (SLA) to modernise government payment systems.

The agreement, signed between Ghana Interbank Payment and Settlement Systems, the Ghana Association of Banks, and the Ministry of Finance through the Controller and Accountant-General’s Department, aims to transition public sector payments from manual cheque-based processes to a fully integrated electronic funds transfer system under the GIP–GIFMIS platform.

Speaking at the event, John Awuah described the initiative as a significant milestone in improving public financial management, noting that the shift to digital payments would enhance transparency, traceability and efficiency while reducing operational risks associated with manual systems.

He indicated that member banks are prepared to integrate their systems with the new platform, comply with implementation timelines and support customers throughout the transition. The platform is expected to improve settlement efficiency, reduce delays and strengthen confidence in Ghana’s financial system.

Awuah also highlighted the need for discipline in payment execution, raising concerns about delays in remittances to third-party beneficiaries despite deductions at source. He stressed that a seamless, end-to-end payment process—from initiation to final settlement—is critical to avoiding inefficiencies and mitigating credit risks within the banking sector.

The initiative forms part of Ghana’s broader push toward a cash-lite economy, with stakeholders including the Ministry of Finance, the Controller and Accountant-General’s Department and the Bank of Ghana expected to collaborate to ensure its successful implementation.