Ghana Joins Better Than Cash Alliance for Greater Financial Transparency

Date: 
18 Dec 2014

The Government of Ghana joined the Better Than Cash Alliance to enhance fiscal transparency and promote financial inclusion for all its citizens. By becoming a member, the Government committed to transitioning its programs from cash to digital payments. As a part of the partnership, the Government will digitize salaries of government workers and eventually expand to other government programs. For the latter, Ghana will start with a pilot to transition the payments made by the Livelihood Empowerment against Poverty (LEAP) social welfare program for the poorest Ghanaian families. There are currently more than 30 members of the Alliance that range from governments, development partners, UN agencies, and private companies. 

“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, Minister of Finance of Ghana. “Ghana’s digital innovation is renowned and is reflected in this commitment to transition away from cash in all government payments. Evidence and the experience of our members show that 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," said Dr. Ruth Goodwin-Groen, Managing Director, Better Than Cash Alliance. 

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Country: 
Ghana