President Akufo-Addo Drops Another Good News For All “MoMo” Users in Ghana
The president of the Republic of Ghana, Nana Addo Danquah Akufo-Addo who stormed Dawhenya, Greater Accra Region to commission a 75 Greenhouses & Entrepreneurship Innovative Centre earlier today.
The leader of the New Patriotic Party (NPP) has only been in office for just three and half years but his good work is something noteworthy of and tremendous to write about.
The Vice president Mahamudu Bawumia has revealed that about 15 million Ghanaians have bank accounts – This is said to be a result of the Mobile Money interoperability that was launched in 2018.
Bawumia said anyone with a Mobile Money account automatically has a bank account believes in Vice President, Mahamudu Bawumia, has revealed that due to the Mobile Money interoperability about 15 million Ghanaians have bank accounts.
MTN Mobile Money is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone. The service is offered by MTN in partnership with over 10 partner banks.
The Mobile Money interoperability allows Ghanaians to move money from their bank accounts to their mobile money wallets and from the wallets to the bank account.
Mobile money is a relatively new phenomenon in Ghana. It was first introduced by the telecom company MTN a year ago. MTN Mobile Money operates in partnership with nine banks. Currently, more than 2 million Ghanaians are registered as active users.
According to Bawumia, Ghana happens to be the first country on the African continent to adapt to the digitised way of handling and moving cash without moving. Vice President, Mahamudu Bawumia
Mahamudu Bawumia said: “There is no where in Africa that we have this mobile money interoperability. Ghana is pioneering this digitise way of seamlessly moving cash in Africa.”
To encourage the digitisation of merchant payments in Ghana’s open markets, in January 2017 MTN Ghana launched a merchant payment service – MoMo Pay.
Mahama Bawumia added that anyone with a Mobile Money account automatically has a bank account since he or she can make and receive transfers as well as get interest on their balance.
According to Bawumia, we have moved away from the world of branch banking, where one had to go to the bank to get an account opened, to more convenient, branchless banking. He boasted that today Ghana is the fastest growing MoMo market in Africa.