To ensure a robust payment system for Ghana, the Bank of Ghana has put in place a strategic plan, termed “National Payment Systems Strategic Plan (2019-2024)”, sets forth the policy direction and guidelines that will promote an enabling environment to develop the Ghanaian payment and financial systems. With the vision of “To have a safe, efficient and inclusive payment system with an enabling environment for competitive delivery of innovative, convenient, and affordable digital payment solutions”.
The key strategic objectives of the plan are :
- Foster efficient payments;
- Improve financial inclusion; and
- Enhance financial innovations.
The plan is anchored on the following Strategic Pillars/ Responsibilities :
Develop and implement clear and comprehensive regulatory and governance
framework;
- Promote free, competitive and orderly development of the payment system
- space that encourages innovation;
- Promote a safe and efficient payment system that fosters confidence and
- encourages usage;
- Deepen financial inclusion;
- Promote financial technologies;
- Promote interoperability of payment systems;
- Foster consumer trust; and
- Participate in the integration of regional payment systems
The plan had a section which reviewed the central banks’ 2014 Strategic Payment Systems Roadmap and noted its key achievements.
The other key content are :
- Rationale for a New Payment Systems Strategy
- Vision
- Strategic Objectives
- Strategic Pillars/ Responsibilities
- Responsibility Matrix
- Enablers (Critical Success Factors)
- Strategic Initiatives
- Action Plan for Initiatives
Source :