No Result
View All Result
Monday, June 5, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Citi Business Festival enters week one; focuses on Digital Economy

    Re-establishing national airline critical to reducing forex loss – Former Civil Aviation Boss

    Ghana’s unsustainable debt largely attributed to Energy Sector – World Bank Rep

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    We’ll be swift with Ghana’s economic recovery – Ofori-Atta

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Pay us by borrowing from treasury bill market- Pensioner bondholders reiterate calls to govt

    Ghana’s energy sector needs audit to ascertain debt levels – COPEC

    Sole implementation of cylinder recirculation model threatens our investment – LPG Operators

    Mobile money disrupted banking in Ghana – Zeepay CEO

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

    Fuel pricing: COPEC predicts marginal drop in first window of June 2023

    ACEP pushes for research in Africa’s energy sector

    African leaders urged to employ energy policies that will transform Africa

    COVID -19 levy must be abolished – Importers & Exporters insist

    Halt implementation of utility tariffs increment- FABAG tells govt

    Govt maintains COVID-19 levy despite calls for removal

  • TECHNOLOGY

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Citi Business Festival enters week one; focuses on Digital Economy

    Re-establishing national airline critical to reducing forex loss – Former Civil Aviation Boss

    Ghana’s unsustainable debt largely attributed to Energy Sector – World Bank Rep

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    We’ll be swift with Ghana’s economic recovery – Ofori-Atta

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Pay us by borrowing from treasury bill market- Pensioner bondholders reiterate calls to govt

    Ghana’s energy sector needs audit to ascertain debt levels – COPEC

    Sole implementation of cylinder recirculation model threatens our investment – LPG Operators

    Mobile money disrupted banking in Ghana – Zeepay CEO

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

    Fuel pricing: COPEC predicts marginal drop in first window of June 2023

    ACEP pushes for research in Africa’s energy sector

    African leaders urged to employ energy policies that will transform Africa

    COVID -19 levy must be abolished – Importers & Exporters insist

    Halt implementation of utility tariffs increment- FABAG tells govt

    Govt maintains COVID-19 levy despite calls for removal

  • TECHNOLOGY

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Sibton Switch defends GH¢4.6 bn BoG contract

bycitibusinessnews
February 3, 2017
in Banking And Finance, Government, Local Economy, TECHNOLOGY, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Sibton Switch Systems has defended the 4. 6 billion cedis cost for the establishment of an interoperable platform for mobile money transactions in Ghana.

According to the company, the quality and extent of services provided for by the platform, guaranteed its selection by the Bank of Ghana.

“It’s a long term infrastructure; it’s a retail payment system that does not just cover one party which will be interoperability for Mobile Network Operators (MNOs). It cuts across the entire retail payment systems; it comes with MNOs, banks, aggregators, merchants among others,” of Sibton Switch systems, Keiko Wantanabe explained on the Citi Breakfast Show on Friday.

ADVERTISEMENT

She added, “If we believe that this amount is what is going to get us this infrastructure, then we’re investing this amount into it.”

Sibton Switch wins contract

Documents cited by Citi FM indicate that Sibton Switch systems will be in charge of the interoperability platform for telecom operators effective March 2017.

The company was selected from three institutions that submitted tenders to provide interoperability services for mobile network operators in the country.

Sibton Switch’s amount; GH¢ 4,669,414,340.82 is relatively higher than the other two institutions that expressed interest in the contract.

The other two were; Vals Intel Limited and Mericom Solutions Limited which quoted GH¢14, 094,795.00 and GH¢ 5,465,396.06 respectively.

Telecom operators unhappy

Telecom operators have opposed the move to get an institution to harmonize the interoperability platform within the financial space.

According to the telecom players, there are already existing platforms for interoperability in the mobile money space.

Some industry watchers have also expressed dissatisfaction with the Bank of Ghana’s decision to outsource the deal to an external entity.

They argue that the move demonstrates a side-stepping of the Ghana Interbank Payment and Settlement Systems (GhIPSS) which currently operates a similar interconnected payment platform for banks in the country.

Keiko Wantanabe could however not readily disclose how much the services will cost the respective players within the chain.

“We setting up the platform itself reduces cost. The role we play is not a onetime fee that is being imposed on participants…over a period of time, whatever investment that we are putting in will be realized but gradually,” she stated.

BoG must clarify issues

The Bank of Ghana is yet to make an official statement on the matter.

But ahead of that, some analysts in the financial sector believe the central bank’s position should bring all uneasiness to rest.

“It is confusing as to whether or not the amount is going to be a payment by the Bank of Ghana, …typically the hub is not paid by the facilitator but generally they make some kind of switch feed on the platform that they facilitate,” Digital financial services consultant, Kwame Oppong said on the Citi Breakfast Show.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Related Posts

Top Stories

Citi Business Festival enters week one; focuses on Digital Economy

byNii Larte Lartey

The programmes lined-up for the 2023 edition of the Citi Business Festival being organized by Citi TV/Citi FM will begin...

Read more

Re-establishing national airline critical to reducing forex loss – Former Civil Aviation Boss

Ghana’s unsustainable debt largely attributed to Energy Sector – World Bank Rep

Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

We’ll be swift with Ghana’s economic recovery – Ofori-Atta

Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

Pay us by borrowing from treasury bill market- Pensioner bondholders reiterate calls to govt

Ghana’s energy sector needs audit to ascertain debt levels – COPEC

Next Post

Kenya:Treasury expects Sh100bn in loans by end of March

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.