GOVERNMENT OF GHANA SEEKS TO GO CASHLESS IN 2020

The government has announced that the digitization of all transactions in the public sector will be done by June 2020.

This means cash will no longer be accepted for service delivery in the public sector by June next year.

According to Vice President, Dr Muhammudu Bawumia who announced this at a forum organized by Ishmael Yamson and Associates, a pilot exercise has already been completed in the Tourism Ministry ahead of the implementation.

He says the move is to block financial leakage in the public service.

“So if you want a service, you would have to go to one portal so that you can do everything online.”

He expressed optimism the exercise will increase domestic revenue.

“When you do that you are eliminating a lot of middlemen, of course, Goro boys,” he said.

Since the current Government ascended came into power had been on the race to make Ghana a cashless society, with some major achievements, chalked.

But many of the blockchain community had called that the government should look into ways of leveraging the use of Blockchain to foster safe, reliable, Immutability and trustworthy usage of the public funds. It is also touted that the blockchain has already been used to solve the issue of 3rd party interference in financial transactions.

It is notable that the Governor for the Bank of Ghana has mentioned that the central bank is already understudying the technology to foster growth in the financial sector.

The government has announced that the digitization of all transactions in the public sector will be done by June 2020.

This means cash will no longer be accepted for service delivery in the public sector by June next year.

According to Vice President, Dr Muhammudu Bawumia who announced this at a forum organized by Ishmael Yamson and Associates, a pilot exercise has already been completed in the Tourism Ministry ahead of the implementation.

He says the move is to block financial leakage in the public service.

“So if you want a service, you would have to go to one portal so that you can do everything online.”

He expressed optimism the exercise will increase domestic revenue.

“When you do that you are eliminating a lot of middlemen, of course, Goro boys,” he said.

Since the current Government ascended came into power had been on the race to make Ghana a cashless society, with some major achievements, chalked.

But many of the blockchain community had called that the government should look into ways of leveraging the use of Blockchain to foster safe, reliable, Immutability and trustworthy usage of the public funds. It is also touted that the blockchain has already been used to solve the issue of 3rd party interference in financial transactions.

It is notable that the Governor for the Bank of Ghana has mentioned that the central bank is already understudying the technology to foster growth in the financial sector.