Ghana - biometric payment system

The German Government supports the Government of the Republic of Ghana implementing the countrywide, biometric payment system “e-zwich” with financial assistance. Ghana Interbank Payment and Settlement Systems Limited (herein referred to as ”GhIPSS”) is implementing a countrywide, biometric payment system (“e-zwich”), which allows the delivery of quality financial services to all parts of the populations, especially also the formerly unbanked and under-banked in rural areas. The objective is to make formal financial services – often for the first time – available to each Ghanaian. As the investment costs for the e-zwich infrastructure are very high in comparison to the modest revenues, the private investors can expect in rural areas, there is a need for public support to maximize the developmental benefits in rural areas as soon as possible. Therefore, GhIPSS has submitted a proposal for the government's Financial Sector Reform work plan, which entails the establishment of a revolving credit fund. The revolving credit fund would provide loans on adequate terms and conditions to any financial institution that wants to establish e-zwich infrastructure in rural areas. The Ministry of Finance and Economic Planning and the Bank of Ghana support GhIPSS’ proposal. The GhIPSS takes the overall responsibility and project lead. The KfW Development Bank funds the investment components as there are the Point of Sales (POS) Terminals, merchant cards, customer cards and ATM’s to enhance the access to financial services for the rural population. The project team, to be selected with this tender, shall support GhIPSS implementing the e-zwich system.