momo

Ghana’s leading telecommunication company, MTN has taken another giant step by launching its ‘Mobile Money Month’ celebration under the theme: “Digitizing Payments in Ghana – The Role of Mobile Money”.

The month long celebration which comes off every year in August is aimed at promoting the use of mobile money and the benefits it brings to individuals and businesses.

Speaking at the launching ceremony at Kasua, the General Manager Mobile Financial Services of MTN, Mr. Eli Hini, hinted that in monitoring the global trends, research has shown that globally the number of adults who have accounts through either a financial institution or mobile money increased from 62percent to 69 per cent between 2014 and 2017. In sub-Saharan Africa it increased from 54 percent to 63 percent within the same period.

This he said, as the pioneers and leaders of Mobile financial services in Ghana, they have not relented in their efforts to continually educate Ghanaians on the benefits that mobile money provides within the financial ecosystem. And also let them know that, the service is
Safe, secure and reliable.

According to him, technology is changing everything including the way humans interact with each other and with their environment.

Technological advancement is providing new opportunities for transacting business across the world which makes the theme for this year’s Mobile Money Month very timely and appropriate.

“We chose to focus on digital payments because of the potential it has to help drive financial inclusion and push us to another level in driving the cashless economy agenda.

MTN started discussions on using mobile money to drive the cashless agenda in Ghana’s economy a few years back.

We facilitated the public discussions and in so doing realized that there was the need for more education to allow people to familiarize themselves with the technology before going completely cashless,” he explained.

In Ghana today, mobile money, MOMO as it is popularly known has become a household name and it’s accepted by almost all persons, from traders to SMEs to corporate organizations.

The recent progress has been driven generally by digital payments, a new generation of financial services accessed through mobile phones and the internet.

“Also our track record with payments cannot be over emphasized. Following the issuance of the E-Money Issuers Guidelines, the Bank of Ghana approved the payment of interest to Mobile Money subscribers in September 2016, MTN has made quarterly interest payments to all active MoMo subscribers. A total of GH₵98.9 million has been paid to customers as at the end of July 2018,” he disclosed.

According to Mr. Eli Hini Digitized payments will go a long way to benefit the individual, institutions and the economy in general.

Adding that, it will help for easy tracking of revenues made by institutions (big or small), reduce corruption, save money used in printing currency and improve overall efficiency in doing business.

“I am particularly excited that Government has taken steps to make all of its payments electronically according to vice President Dr. Bawumia.

For us as MTN, this is welcoming news because we have positioned ourselves well in the mobile financial services sector and invested in technology that will make all of these possible.

With our over 9 million active subscriber’s, 100,000 agents, over 50,000 merchants across the country and 17 partner banks we are well positioned to lead to the digital agenda for all forms of payments in Ghana,” he stated.

He therefore urged all and sundry to keep money on their MoMo wallet and to use it in day to day payment activities.

“We are happy to say that MTN MoMo is safe and secure and it is also ISO certified. As we begin the MoMo month activities, we will run promotions for our customers to win interesting prizes.

Other activities scheduled for the month include a stakeholder forum where we will be discussing ‘The Implications of Additional Taxes on Mobile Money Transactions’.

We will also be engaging the Mobile Money agents, merchants and our partners in activities meant to intensify the education and awareness on digital payments,” he emphasized.

Isaac Kofi Dzokpo/newsghana.com.gh

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