Public sector payments go electronic next year — CAGD
The Controller and Accountant General’s Department (CAGD) and the Bank of Ghana will roll out an electronic funds transfer platform next year to enable public sector organisations to move funds electronically.
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The platform is a product of the CAGD’s Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Interbank Payment and Settlement System (GhIPSS), a subsidiary of the BoG.
The GhiPSS Electronic Funds Transfer (EFT) is now embedded within GIFMIS and has since been successfully tested and piloted with some key institutions.
Towards the activation of the platform, the CAGD has just completed a stakeholder engagement across the country.
This now paves the way for the training of all stakeholders, including officers of the ministries, departments and agencies (MDAs) and the metropolitan, municipal and district assemblies (MMDAs), users of the platform, for the full rollout of the platform next year.
When fully rolled out, the ETF will process all transactions on the GIFMIS and make payments through the GhIPSS EFT to strengthen bank reconciliation and allow for the importation of bank statements to execute automatic bank reconciliation.
This is expected to lead to improved bank reconciliation, receipts and payments and financial reporting.
Reliable national accounting
The Controller and Accountant General, Kwasi Kwaning-Bosompem, who made this known in Accra last Wednesday, said the rollout would ensure that the GIFMIS platform was used in the processing of all payments for a more reliable national accounting.
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He said the platform would also enhance the quality, consistency, comparability and transparency of the national accounts.
Mr Kwaning-Bosompem, who was addressing the end of year thanksgiving and the celebration of nine lessons and carols at the forecourt of the department, said the department continued to introduce into the management of government payroll numerous controls for which it had successfully linked the payroll database with the Ghana Card database.
He said it was, therefore, not possible for any individual to put names of persons on the payroll and get them paid any amount without being validated by an employer institution.
The ceremony was on the theme: "Give thanks in all circumstances; for this is God's will for you in Christ Jesus."
Context
As part of the Public Financial Management (PFM) reforms in the country, GIFMIS was launched in 2009 and has since been extended to cover all public fund expenditure across the country.
Challenges
While acknowledging the challenges encountered this year, Mr Kwaning-Bosompem said: "We have encountered unforeseen obstacles, both on personal and professional fronts.
However, in spite of the difficulties, the Controller and Accountant General said, the department continued to excel in the delivery of its mandates.
Mr Kwaning-Bosompem said the department had jealously safeguarded its core values of putting customers first, serving the whole country, acting with integrity while valuing people and pursuing continuous improvement and innovation.
Among them, he indicated, included onboarding the implementation of International Public Sector Accounting Standards (IPSAS) which was geared towards improving transparency and fiscal discipline.
CAGD employees
Describing employees as crucial stakeholders in every organisation, the Controller and Accountant General said it was imperative for management of every organisation to commit themselves to ensuring the welfare of their staff, since a satisfied employee was a key ingredient for the progress of an organisation.
“It is for this reason that under my stewardship as the Chairman of the Governing Board of the CAGD Welfare Scheme, staff have experienced increased benefits from the scheme,” Mr Kwaning-Bosompem stated.
Mr Kwaning-Bosompem said more than 2,000 officers had been promoted across all grades since the inception of the promotion exercise in 2020 and gave an assurance of his commitment to ensure that all those who were qualified for promotion were given the opportunity to avail themselves when they were due.
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He expressed gratitude to the staff of the CAGD for their unwavering dedication, commitment, and hard work throughout the year and said: “Your contributions have been instrumental in our collective achievements and I am humbled by your professionalism and passion.”
Exaltation
In an exaltation, the Chairman of the Christ Apostolic Church International, Apostle Samuel Amponsah-Frimpong, observed that the past two years had been turbulent across the globe with the emergence of COVID-19 and the Russia and Ukraine war having a challenging effect on the fragile economy of the country.
In spite of that, he insisted that Ghanaians must be thankful to God in all things.
He expressed worry about the number of coup d'etats within the continent, particularly from the Sudan through to West Africa.
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Apostle Amponsah-Frimpong who spoke on the topic, “The power of your unique gifts,” described Ghana and Ghanaians as a gifted country and people and asked all to undertake a self-introspection and identify their special gifts.
He said it was only when the gifts were appreciated that Ghanaians would increase their capacity to receive.
Gifts were later presented to retired employees of the department.