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Bawumia to launch one-stop online portal for payment transactions

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Government is expected to launch a transformational, one-stop online portal; Ghana.Gov to support digital transactions.

According to a tweet sent out by the Ministry of Information on June 6, 2020, the Ghana.Gov portal will serve as a National Digital Payment Platform to enhance government’s digitisation agenda.

Vice President Dr. Mahamudu Bawumia is scheduled to formally launch the platform at a ceremony in Accra on Monday June 8 2020.

Commenting in a video post ahead of the launch, Information Minister, Kojo Oppong Nkrumah said the “platform comes as additional layer to what the Akufo-Addo led administration has been doing to digitise the economy.”

“The Ghana.Gov will provide a single point of access to all services of Ministries, departments and agencies of government and it will ensure that anybody who needs to make single payments can that do through the portal without having to interface with several people,” he added.

Explaining the benefits of the platform, the Information Minister said it will improve government’s revenue collection, help save more on its expenditure as well as aid government in the fight against corruption.

Kojo Oppong Nkrumah added that the Vice President will use the occasion to reiterate government’s other efforts in the digitisation space.

Vice President, Dr. Bawumia, earlier in January this year announced the introduction of the one-stop portal; Ghana.Gov in line with government’s digitisation and economic transformation agenda.

He explained that the Ghana.Gov online portal will synchronize all business transactions with all government agencies and enterprises. It will also enable members of the public to transact business with any government agency through the Ghana.Gov platform, according to the Vice President.

Source: www.ghanaweb.com

 

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Business

President directs MMDAs, agencies to buy locally assembled vehicles

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President Nana Akufo-Addo has directed Metropolitan, Municipal, District Assemblies (MMDAs) and other Government agencies to prioritize locally assembled vehicles when making buying decision for new vehicles.

Chief of Staff, Akosua Frema Osei-Opare made this known in a statement. According to the statement, the directive takes effect from July 2020.

It says the Ministry of Trade would provide information about assembling vehicles in Ghana.

German auto manufacturers, Volkswagen, Chinese Sinotruck and Japanese Toyota are three of the companies assembling vehicles in Ghana.

The statement urged all MDAs, MMDAs, and other Government establishments to comply with the policy.

Source: Daily Guide Network

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Business

MTN extends fee waiver on 100 cedis MoMo for another 3 months

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Telecommunications giants, MTN Ghana has extended its fee waiver for mobile money transactions of 100 cedis and less for three more months.

In a statement by the company, they said the waiver will now end in September.

MTN initiated this initiative to encourage Ghanaians to do more mobile transactions amid the COVID-19 pandemic.

“Mobile Money Limited has extended the fee waiver on MoMo on-net transfers up to Ghs100 daily till Sept 30, 2020. The extension of the MTN and Bank of Ghana COVID-19 initiative gives opportunity to MoMo customers to continue sending money transfer value up to GHS100 daily to MoMo wallets for free,” portions of MTN’s statement said.

In addition to extending the fee waiver, MTN says the revised limits on daily transactions and wallet balances on mobile money will remain the same as approved by Bank of Ghana in March.

“Customers with a daily limit of GHS300 can still transact up to an amount of GHS1, 000, whereas those with daily limits of GHS2, 000 and GHS5000 can transact with values of GHS5, 000 and GHS10, 000 respectively. Also, customers with wallet balance limits of GHS1, 000, GHS 10,000 and GHS20,000 can continue to hold up to GHS2, 000, GHS15, 000 and GHS30,000 respectively in their wallets,” the statement said.

It added, “Customers with monthly aggregate transaction limits of GHS20,000 and GHS 50,000 will continue to enjoy unlimited access. Mobile Money Limited has extended the fee waiver on MoMo on-net transfers up to Ghs100 daily till Sept 30, 2020.”

Source: pulse.com.gh

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Business

Ghana spends GH¢6.40bn on interest payments in Q1

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The government of Ghana spent GH¢6.40bn on interest payments in the first quarter of 2020.

This represented 1.7% of Gross Domestic Product (GDP) and in line with the envisioned target of GH¢6.42 billion.

According to the Bank of Ghana, total interest payments constituted almost 64% of domestic revenue, undermining fiscal flexibility.

While domestic interest payments outturn was close to the proposed target, external interest payments were somewhat above the planned target due to additional payments not factored in the programme targets, it said.

Together with wages and salaries, they accounted for over 120% of domestic revenue, suggesting a lack of fiscal space and inherent rigidities in the budget execution.

Wages and salaries amounted to GH¢6.50 billion (1.7% of GDP), above the envisioned target of GH¢5.94 billion (1.5% of GDP).

The situation means that government depends on grants and other sources of funds to finance capital projects, raising concerns going forward.

In 2020, the government is expected to spend GH¢23 billion on interest payments but that may not be so because of the coronavirus pandemic.

Some multilateral institutions and sovereign nations that support the government budget may cut loan repayment schedule or cancel some debts owed them.

Source: Class FM


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