The Controller and Accountant-General, Kwasi Agyei, has reaffirmed that all government institutions will be fully migrated onto secure electronic payment systems by the first quarter of 2026 as part of efforts to enhance transparency and efficiency in public financial management.
Mr. Agyei announced at a consultative meeting in Accra with Managing Directors of commercial banks on the rollout of the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Interbank Payment and Settlement Systems (GhIPSS) Electronic Funds Transfer (EFT) initiative on Thursday, November 20, 2025.
The engagement focused on improving collaboration with banks, addressing outstanding concerns, and ensuring all stakeholders are adequately prepared for the integration.
Mr. Agyei highlighted persistent challenges associated with the continued use of manual cheques in Ministries, Departments, Agencies (MDAs), and local government authorities, despite the Public Financial Management Act (Act 921) establishing GIFMIS as the approved system for managing public funds.
He noted that manual cheque transactions expose government funds to fraud risks, complicate reconciliation, and create operational inefficiencies.
“Failure to use the GIFMIS platform undermines integrity and transparency in financial management and affects the timely generation of financial reports for decision-making and preparation of the national accounts,” he stressed.
Mr. Agyei said eliminating manual cheques and fully adopting electronic payments was crucial.
“This initiative is not merely a technological upgrade; it is a transformative step toward strengthening accountability and efficiency in the management of public funds,” he stated.
“Transitioning to electronic payments through secure platforms such as GIFMIS and GhIPSS is therefore both timely and essential.”
He emphasised that achieving the 2026 deadline would significantly enhance accountability, promote efficiency, and increase public confidence in government financial operations.
The Controller and Accountant-General’s Department (CAGD) announced that sensitisation and training programmes for government agencies would continue ahead of the system’s full rollout.
Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu, reiterated the Central Bank’s commitment to digitising payment systems.
She said the integration of GIFMIS and GhIPSS would improve monitoring, strengthen accountability, and urged commercial banks to support MDAs and MMDAs to meet the transition timeline.
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Source: GNA
