The National Communications Officer of the opposition National Democratic Congress (NDC) says the Mobile Money Interoperability initiative began in 2016 under the leadership of former President John Mahama.

Sammy Gyamfi claimed that a contract was granted to SIBTON by the Bank of Ghana during the NDC/Mahama administration in 2016.

In a response to the 2024 NPP flagbearer's address at UPSA, the NDC urged Dr Mahamudu Bawumia, to provide truthful information to Ghanaians.

Addressing the public on Wednesday, February 7, Dr Bawumia touted Ghana's rapid growth in the mobile money market in Africa, crediting the Akufo-Addo government's investments in the sector for this achievement.

However, Mr Gyamfi responded to Dr Bawumia's statements in a press release, alleging that the Vice President terminated a contract that had been awarded by the NDC and subsequently rewarded it to his associates.

“On the contrary, the first MOMO interoperability system contract was awarded to a company known as SIBTON by the Bank of Ghana in 2016 under the visionary NDC/Mahama government. Bawumia only came to cancel this Build Operate and Transfer (BOT) contract under false pretenses and awarded a new contract to his crony company.”

"The claim by Bawumia that the SIBTON contract was inflated by GHS4.6 billion is a lie. It was a Build, Operate, and Transfer (BOT) project. Government was not going to spend a pesewa on it. Rather, the company was going to charge the normal user fees which was projected to be GHS4.6 billion over a 15-year period as their gross revenue, inclusive of their setup and operating cost.”

"Even before this BOT interoperability project, Ghanaians could send MOMO across networks through the TOKEN system that the Ghana Interbank Payment and Settlements System (GhIPSS) Limited had provided. Remember the TOKEN MOMO SYSTEM?”

"Clearly, even before this government took office, MOMO interoperability had been long conceived and initiated. A contract had been signed to that effect. Bawumia should stop the lies.”