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US companies to make over $16m supplying ATMs, point of sale machines to Ghana

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US companies are expected to make more than $16 million from the supply of ATMs, point of sale machines, network hardware and software to Ghana.

The supply of these items is to support financial transactions and to make banking more accessible in the country.

This will create more business opportunities for the companies, says the United States Trade and Development Agency (USTDA) after it awarded a $496,000 grant to the Ghana Interbank Payments and Settlement Systems Limited (GhIPPS) to help it determine the technical, operational, and business requirements to expand participation in Ghana’s financial sector.

“Through this grant agreement, the project is expected to create more than $16 million in business opportunities for U.S. companies in the supply of biometrically enabled ATMs, point of sale machines, and network hardware and software to support financial transactions,” said the USTDA in press release on its website.

The Agency indicates that the grant will also fund technical assistance to evaluate the extension of branchless banking services, including electronic payment systems and other financial services, to underserved segments of Ghana’s population.

“USTDA’s support for this assistance will be of mutual economic benefit to the United States and Ghana by serving to facilitate trade and strengthen our countries’ economic ties,” the release quoted USTDA Director Leocadia I. Zak as saying.

By Ekow Quandzie

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