The Associations of Small Scale Industries, Ghana has welcomed the mobile money interoperability initiative by Government which is aimed to address among many issues, the drive towards a cash-lite society.
“As the apex body for the Micro and Small Scale business associations in Ghana, ASSI recalls during its Encounter with Presidential Candidates held in Tamale on 8 August 2016 with Nana Akufo-Addo and then running mate Dr. Mahamadu Bawumia, the point strongly advanced on the need for innovative ways to address the large portion of informal businesses outside of the banking sector, estimated at over 65%,” According to ASSI in a release signed by Charles Othniel Abbey, the General Secretary and Saeed Moomen, the National President and copied to Newsghana.com.gh.
The release further noted that, this problem, has over the years been one of the many factors accounting for the lack of access to affordable
credit by micro and small businesses in Ghana.
The release also said “It is welcoming that, the mobile money interoperability would be an important vehicle that enables majority of our members, who own mobile money accounts, to seamlessly integrate it with a bank account.
For the micro and small business entrepreneur, time is money, and cannot afford the many delays that attended their use of traditional banking to facilitate business transaction. We however wish to recommend that, in the short to medium term, efforts are made to drive down further costs of transactions through this platform.”
“As a proactive body, we have initiated the USSD code *920*33# as a tool to assist our members market their services to the general public through mobile phones (which would be launched in the 3rd quarter of 2018).
On this platform, it also affords the 9,000 + members currently registered the means to receive and
make payments for services rendered to the general public and among ourselves. Thus, the smooth operations of the mobile money interoperability would go a long way to deepen trade and business for the local economy,” The release added.
According to the release, innovative and sustainable measures are needed to grow and transition the informal economy to more formal status and the mobile money interoperability is certainly one of them.
By:Newsghana.com.gh
