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HomeAfricaUN: Ghana teams up with UN-backed alliance to faciltate cashless economy

UN: Ghana teams up with UN-backed alliance to faciltate cashless economy

The Government of Ghana is taking steps towards enhancing fiscal transparency and promoting the financial inclusion of its citizens by committing to a UN-backed initiative that supports countries’ transitions to electronic payments, a UN statement said on Tuesday in New York.

The statement, obtained by PANA in New York, said with the assistance of the “Better Than Cash Alliance”, which is hosted by the UN Capital Development Fund (UNCDF), the Ghanaian government would focus on transitioning forms of government payments to electronic ones, beginning with the digitization of government workers’ salaries.

It said the government subsequently plans to expand the use of electronic payments to the “Livelihood Empowerment against Poverty” (LEAP) social welfare programme, with the hope that 71,000 Ghanaian households will reap the benefits of transparency, cost savings and financial inclusion.

It quoted Dr. Ruth Goodwin-Groen, Managing Director of the Better Than Cash Alliance, as saying: “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 have 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.”

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