Ghana's Mobile Money Providers have expressed dismay at the Bank of Ghana's plans to mandate mobile money interoperability through a private switch contracted to the BoG.
Following a meeting between the central bank, mobile money operators and the banks, regarding the implementation of the switch, the Ghana Chamber of Telecommunications wrote to the BOG, saying that the proposed pricing model was not in alignment with international standards or benchmarks. It further indicates that the fees to be charged by the switch too high but it also has the potential to lead to losses on interoperable transactions., and that the switch may become a Single point of Failure (SPOF).
The Providers had been planning to interoperate amongst themselves before the BOG unvelied its switch mandate plans. The switch from Sibton Switch Systems, reportedly cost GHc 4.6 billion (over US$10m).