{"id":290926,"date":"2017-02-03T12:32:11","date_gmt":"2017-02-03T12:32:11","guid":{"rendered":"http:\/\/citifmonline.com\/?p=290926"},"modified":"2017-02-03T12:32:11","modified_gmt":"2017-02-03T12:32:11","slug":"sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/","title":{"rendered":"Sibton defends GHc 4.6 bn mobile money contract with BoG"},"content":{"rendered":"

Sibton Switch Systems, the company given the contract to enhance interoperability in mobile money transactions across telecom networks by the Bank of Ghana, has justified the GHc 4.6 billion cost of the project.<\/p>\n

It has been discovered that the company’s GHc 4.6 billion price tag was the most expensive among the companies that bid for the project.<\/p>\n

[contextly_sidebar id=”D3BWu9iD9C7PoOfnhfB5fY174uRcJKXK”]According to the tender documents seen by citifmonline.com<\/strong>, whilst the Sibton Switch Systems\u2019 bid for amounted to GHc 4.6 billion, \u00a0two bids in the contract amounted to GHc 14 million and GHc 5.4 million from Vals Intel Limited and\u00a0Mericom\u00a0Solutions Limited respectively.<\/p>\n

Analysts have explained that mobile money transfers will become expensive since the high cost of the project will be passed on to users.<\/p>\n

The value of mobile money transactions in 2016 was GHc 8 billion.<\/p>\n

According to Sibton Switch Systems, the BoG, which regulates the mobile money operations of the telcos, will however not be funding any part of the tender as it is planning to build, operate and own the system.<\/p>\n

Speaking on the Citi Breakfast Show<\/strong>, a Manager at\u00a0Sibton Switch Systems, Keikos\u00a0Watanabe, explained that the core function of Sibton Switch Systems will be to enhance and facilitate interoperability. This will be done in phases; beginning with the integration with Mobile Money Operators (MMOs) followed by integration of bank merchants and eventually to cover the entire retail ecosystem.<\/p>\n

\u201cThe platform we are putting in place is quite comprehensive and it is capital intensive. If we are to factor the retail payments across the\u00a0board, not just locally, we are also connecting with international payment systems \u2013 there is so much investment that has to go into our platform.\u201d<\/p>\n

“As a retail payment system, what Sibton Switch Systems is looking to provide will not cover just the interoperability for MMOs. But it will cut across the entire retail payments system, and this comes with MMOs, comes with banks, comes with merchants and beyond,\u201d Ms Watanabe said.<\/p>\n

\u201cIf we believe that this amount is what is going to get us the infrastructure we want and achieve what we have been assigned to do, we are investing this amount into it… the investments we are putting in will be realized, but gradually. That is why it is over a very long period of time.\u201d<\/p>\n

\u201cAs part of the tasks, we have to perform, we have to invest in the infrastructure and that is made up of the physical infrastructure, the hardware and the software\u2026 we are doing the investment. Nobody is paying us to do it. It is part of the process.\u201d<\/p>\n

Although Sibton Switch Systems is looking at reduced charges for customers, Ms. Watanabe could not outline the charges per transaction.<\/p>\n

\"Chief<\/a>
Chief Executive Officer of GHIPSS – Archie Hesse<\/figcaption><\/figure>\n

Reports indicate that\u00a0the Ghana Interbank Payment and Settlement Systems (GhIPSS), is well placed to handle an intermediary role in across-network mobile money transactions.<\/p>\n

Meanwhile, telecom operators in the country are also unhappy<\/a><\/strong><\/span> about moves by the central bank to impose on them a third-party company which will act as the intermediary in mobile money transactions across different networks.<\/p>\n

Before telcos could fully roll-out a form of interoperability, the BoG announced that it had secured the services of a private switch that will handle the interoperability.<\/p>\n

–<\/p>\n

By:\u00a0Delali\u00a0Adogla-Bessa\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

Sibton Switch Systems, the company given the contract to enhance interoperability in mobile money transactions across telecom networks by the Bank of Ghana, has justified the GHc 4.6 billion cost of the project. It has been discovered that the company’s GHc 4.6 billion price tag was the most expensive among the companies that bid for […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,10,718,11],"tags":[3,1390,3696],"yoast_head":"\nSibton defends GHc 4.6 bn mobile money contract with BoG - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sibton defends GHc 4.6 bn mobile money contract with BoG - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"Sibton Switch Systems, the company given the contract to enhance interoperability in mobile money transactions across telecom networks by the Bank of Ghana, has justified the GHc 4.6 billion cost of the project. It has been discovered that the company’s GHc 4.6 billion price tag was the most expensive among the companies that bid for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/\" \/>\n<meta property=\"og:site_name\" content=\"Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/citi97.3\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-03T12:32:11+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/citifmonline.com\/wp-content\/uploads\/2016\/07\/Archie-Hesse-GhIPSS-600x330-1-1.jpg\" \/>\n<meta name=\"author\" content=\"Kojo Akoto Boateng\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@citi973\" \/>\n<meta name=\"twitter:site\" content=\"@citi973\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kojo Akoto Boateng\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/\",\"url\":\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/\",\"name\":\"Sibton defends GHc 4.6 bn mobile money contract with BoG - Citi 97.3 FM - Relevant Radio. Always\",\"isPartOf\":{\"@id\":\"https:\/\/citifmonline.com\/#website\"},\"datePublished\":\"2017-02-03T12:32:11+00:00\",\"dateModified\":\"2017-02-03T12:32:11+00:00\",\"author\":{\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\"},\"breadcrumb\":{\"@id\":\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/citifmonline.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sibton defends GHc 4.6 bn mobile money contract with BoG\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/citifmonline.com\/#website\",\"url\":\"https:\/\/citifmonline.com\/\",\"name\":\"Citi 97.3 FM - Relevant Radio. Always\",\"description\":\"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/citifmonline.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\",\"name\":\"Kojo Akoto Boateng\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"caption\":\"Kojo Akoto Boateng\"},\"url\":\"https:\/\/citifmonline.com\/author\/kojo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sibton defends GHc 4.6 bn mobile money contract with BoG - Citi 97.3 FM - Relevant Radio. Always","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/","og_locale":"en_US","og_type":"article","og_title":"Sibton defends GHc 4.6 bn mobile money contract with BoG - Citi 97.3 FM - Relevant Radio. Always","og_description":"Sibton Switch Systems, the company given the contract to enhance interoperability in mobile money transactions across telecom networks by the Bank of Ghana, has justified the GHc 4.6 billion cost of the project. It has been discovered that the company’s GHc 4.6 billion price tag was the most expensive among the companies that bid for […]","og_url":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/","og_site_name":"Citi 97.3 FM - Relevant Radio. Always","article_publisher":"https:\/\/www.facebook.com\/citi97.3","article_published_time":"2017-02-03T12:32:11+00:00","og_image":[{"url":"http:\/\/citifmonline.com\/wp-content\/uploads\/2016\/07\/Archie-Hesse-GhIPSS-600x330-1-1.jpg"}],"author":"Kojo Akoto Boateng","twitter_card":"summary_large_image","twitter_creator":"@citi973","twitter_site":"@citi973","twitter_misc":{"Written by":"Kojo Akoto Boateng","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/","url":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/","name":"Sibton defends GHc 4.6 bn mobile money contract with BoG - Citi 97.3 FM - Relevant Radio. Always","isPartOf":{"@id":"https:\/\/citifmonline.com\/#website"},"datePublished":"2017-02-03T12:32:11+00:00","dateModified":"2017-02-03T12:32:11+00:00","author":{"@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1"},"breadcrumb":{"@id":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/citifmonline.com\/2017\/02\/sibton-defends-ghc-4-6-bn-mobile-money-contract-with-bog\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/citifmonline.com\/"},{"@type":"ListItem","position":2,"name":"Sibton defends GHc 4.6 bn mobile money contract with BoG"}]},{"@type":"WebSite","@id":"https:\/\/citifmonline.com\/#website","url":"https:\/\/citifmonline.com\/","name":"Citi 97.3 FM - Relevant Radio. Always","description":"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/citifmonline.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1","name":"Kojo Akoto Boateng","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","caption":"Kojo Akoto Boateng"},"url":"https:\/\/citifmonline.com\/author\/kojo\/"}]}},"_links":{"self":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/290926"}],"collection":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/comments?post=290926"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/290926\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media?parent=290926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/categories?post=290926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/tags?post=290926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}