The central bank has reportedly put on hold the billion-dollar deal it handed to Sibton Switch, a local IT firm, to interconnect all payment systems in the country, following public outcry over whether such an intermediary was necessary, given the cost implications for consumers. Sources close to the central bank told the B&FT that the … Read more
The Bank of Ghana (BoG) has awarded a multi-billion-cedi contract to Sibton Switch Systems Limited to implement a retail payment system infrastructure in Ghana. The contract, which is seen by many industry experts as unnecessary and shady, will see Sibton Switch Systems Limited – a company formed only in August 2015 – run a system … Read more
Enquiries made by the B&FT have established that the Ghana Interbank Payment and Settlement Systems (GhIPSS), can handle the intermediary role in across-network mobile money transactions, a multi-million-dollar job the central bank has outsourced to a private company. An insider source told the B&FT that what GhIPSS, a wholly owned subsidiary of the central bank, … Read more