Veep reiterates gov’t’s interest in strengthening payment system infrastructure


Vice President, Dr. Mahamudu Bawumia has reiterated government’s interest in further strengthening the development of electronic payment system infrastructure in Ghana as it has the potential to lessen the burden of tax and fees payments, especially by businesses and the general public.

He explained that making the process of payment of taxes and fees less cumbersome, for instance, would encourage and enable more people to pay up from wherever they may be without going through any hassle to do so.

“We need basic applications to make tax payment easy”, Dr. Bawumia said. He therefore commended institutions that are spearheading the evolution of digital and mobile payment system infrastructure in the country. He further noted that Ghana has the talent and skills in the country to innovate transformational solutions.

The Veep made these pronouncements when a delegation of the management of Guaranty Trust Bank (Ghana) Limited, the 2017 Digital Bank of the Year award winner, led by the Managing Director, Mr. Lekan Sanusi paid a courtesy call on him in his office at the Flag Staff House to appraise him on efforts the bank is making in the development of the electronic banking and e-payments services space in the country.

Responding to Mr. Sanusi’s brief on the various e-channels GTBank has deployed to both public and private institutions in the country to bring convenience to the doorsteps of the paying public, Dr. Bawumia stated that government was interested in moving the country towards a cashless society and has therefore initiated a programme of payment and other systems interoperability such as the paperless port, electronic national identification card and the Ghana Post Address GPS initiatives.

“In the area of payment system interoperability, Government is putting in various pieces of the puzzle, so what you are bringing is another piece towards completion of the puzzle”. He commended GTBank for proposing various solutions in the IT space that could further strengthen the development of payment system infrastructure in the country, especially “when it would be developed by the bank’s Ghanaian staff and come at no cost to government”, as pledged by the GTBank team.

Other members of GTBank’s Management Team who accompanied the Managing Director included Company Secretary and Divisional Head of General Internal Services, Ms. Iris Richter-Addo; Divisional Heads in charge of the bank’s business in Spintex and Tema area, and Technology, Mr. Nelson Ofosu and Leopold Armah respectively; and Group Heads for Energy & Mining, Corporate Affairs and Private Banking, Mr. Atchulo Yahaya, Mr. Ben Ackah-Mensah and Ms. Constance Quist respectively.

The Bank is a subsidiary of Guaranty Trust Bank Plc, one of the foremost banks in Nigeria with a Triple A rating; the first indigenously owned sub-Saharan bank to be quoted on the London Stock Exchange. In 2008, GTBank Plc became the first new generation indigenous African bank to obtain a banking license to carry out fully fledged commercial banking activities in the United Kingdom.

Over the last twelve (12) years of operations in Ghana, GTBank has become a household name, a safe and strong bank and a trail blazer in the innovation of efficient electronic channels to enable its customers to carry out banking transactions from wherever they may be, without having to visit the banking hall.

In 2017, the bank was awarded the “Best Digital Banking – Ghana 2017” by Capital Finance International (cfi), United Kingdom, publisher of the reputable, a business, economics and finance magazine.

Also for four (4) years running, GTBank has been adjudged the “Technology Advanced Bank of the Year” in Ghana, thereby cementing its undisputed lead in the use of technology to make banking easy and convenient for its customers and the general public.

It was also named the “Digital Bank of the Year” and “Best Bank in Mobile Financial Service” in recognition of the various platforms and channels deployed to enhance banking on the go and provide convenience to customers of the bank and even non-customers.

At the 2017 CPI Financial’s Banker Africa – West Africa Banking Awards, GTBank swept five (5) prestigious awards namely “Most Innovative Bank in West Africa”, “Best Online Platform – Ghana”, “Best Commercial Bank, West Africa”, “Best Commercial Bank in Ghana” and “Best Corporate Bank, Ghana.

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