GYEEDA Pays Beneficiaries Through E-zwich

The management of Ghana Interbank Payment and Settlement Systems (GhIPSS) has welcomed government’s decision to use e-zwich to pay beneficiaries of the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA).

GhIPSS says it will work hand-in-hand with government to ensure the smooth rollout of the e-zwich payment.

The Ministry of Finance is working out modalities for the payment of people working under the various GYEEDA modules, Information & Media Relations Minister, Mahama Ayariga said.

The move is to rid the agencies of ghost names and other malfeasance.

He said “the President has given a directive regarding the payment of National Youth Employment salaries.

The decision follows reports that government is losing millions of cedis through ghost payments and misappropriation of funds by some managers of the programme.

Payment of emoluments through the e-zwich will mean that workers can only access monies paid onto the biometric smart card with his or her own finger print, a situation that will automatically weed out ghost names and the incidence of multiple payments as the electronic system will delete beneficiaries with multiple identities.

The Youth Employment and Entrepreneurial programme is a key initiative by government to reduce unemployment and a substantial amount of money is channeled to ensure its success.

The use of e-zwich to pay beneficiaries will therefore ensure judicious use of government resources.

Head of Card Operations at GhIPSS, Mark Boateng, said the move by government was laudable, adding that the payroll of GYEEDA will be significantly cleaned and losses that previously occurred will be a thing of the past.

Currently, the e-zwich system is used to pay student loans at the tertiary institutions, allowance to National Service personnel, as well as Lotto Marketing Companies.

A number of companies also pay their commission staff, particularly those dotted across the country through e-zwich.

A business desk report