Ghana Teams Up With Better Than Cash Alliance In Move Towards Cashless Economy
Tuesday, December 2, 2014
The Government of Ghana today took steps towards enhancing fiscal transparency and promoting the financial inclusion of its citizens by committing to a United Nations-backed initiative that supports countries’ transitions to electronic payments.
With the assistance of the Better Than Cash Alliance, which is hosted by the UN Capital Development Fund (UNCDF), the Government of Ghana will focus on transitioning forms of Government payments to electronic ones, beginning with the digitization of government workers’ salaries.
It subsequently plans to expand the use of electronic payments to the Livelihood Empowerment against Poverty (LEAP) social welfare programme in the hope that 71,000 Ghanaian households will reap the benefits of transparency, cost savings and financial inclusion.
“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,” Dr. Ruth Goodwin-Groen, Managing Director of the Better Than Cash Alliance, said in a press release.