The Bank of Ghana has named Ghana Interbank Payment and Settlement Systems (GhIPSS) and MobileMoney Fintech Limited, which runs MTN Mobile Money, as systemically important payment service providers.
This designation means both organizations will face closer regulatory supervision because they play a key role in keeping Ghana’s payment system stable and reliable.
In a notice, the Central Bank also identified the Ghana Interbank Settlement (GIS) System as a Systemically Important Payment System.
These designations are part of a new regulatory framework introduced under the Payment Systems and Services Act, 2019 (Act 987). The framework is intended to improve oversight of payment systems and providers that are essential to the financial sector.
It introduces stronger supervisory requirements to reduce risks to the wider system and help ensure that critical payment services continue without interruption.
The Bank of Ghana says it will review the designations at least every two years. Its reviews will consider each entity’s risk profile and systemic importance, changes in the market, and compliance with regulatory rules.
The decision highlights the growing role of digital payment infrastructure in Ghana’s financial system and the need for stronger protections against disruptions that could affect the broader economy.