CAGD signs SLA with GhIPSS, 24 banks

March 26, 2026

2 minutes read

The Controller and Accountant-General Department (CAGD) has signed a Service Level Agreement (SLA) with the Ghana Interbank and Settlement Systems (GhIPSS) and 24 Commercial Banks including Apex Bank to strengthen the management and disbursement of public funds.

Under the agreement the GHIPSS-GIFMIS Interoperable Electronic Fund Transfer (EFT) system will be the only authorised channel for payments by covered entities to suppliers and third party accounts domiciled in any of the participating banks.

The Controller and Accountant General, Mr Kwesi Agyei, signed on behalf of Controller, Mr John Awuah on behalf of Association of Banks, and Madam Akosua Blay on behalf of GhiPPS and was witnessed by the Deputy Minister of Finance Mr Thomas Nyarko Ampem.

The Ampem speaking at the launch said the introduction of the platform would modernise public financial management and strengthened transparency and eliminate inefficiencies in government and private sector transactions.

He said government transactions using cheque books for covered entities will be abolished by close of this year, saying that the manual payment systems have exposed the public sector to delays, leakages and weak audits thus affecting sash management and distorts budgets and ultimately undermines public confidence.

The Deputy Minister stated that the integration of the platforms would ensure accountability and safeguard public funds, enhances governments’ ability to manage liquidity, monitor commitments in real time and also reduces processing time and eliminate manual bottlenecks and improve service delivery at the ministries departments and agencies.

The nation he indicated is at a critical point in its economic journey with declining inflation stronger currency and restored fiscal discipline, adding that “The initiative would complement reforms in revenue mobilisation, public expenditure managementand financial sector deepening”.

Mr Ampem emphasised that ‘‘we do this basically to look at what you want to procure, what is the source of funding? Is it in the budget? If it is not you don’t do I just to reduce the danger”.

He urged the signatories to demonstrate what is achievable by rebuilding trust and assured of the Ministry’s commitment for a successful rollout of the electronic fund transfer system.

Mr Ampem stated that the agreement is not just ceremonial but signifies a fundamental shift in the handling of public funds, moving from decisively outdated manual system to a modern control, a fully visible economic payment system.

The platform he indicated would become the only authorised channel for payments by public entities to ensure enough room in the primary source for managing and controlling public funds.

The platform the Controller explained offers people that transparency, auditability, repression of leakages and corruption and reinforces high standards of service delivery, system reliability and financial accountability.

BY LAWRENCE VOMAFA AKPALU

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