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Business News of Tuesday, 8 August 2017


MTN Mobile Money generates 75,000 jobs

General Manager of MTN Mobile Financial Services, Eli Hini, has said that the introduction of the Mobile Money platform has led to the creation of jobs for over 75,000 active agents nationwide.

Speaking at the launch of the MTN Mobile Money Month dubbed, “MoMo” month at the Madina Market in the La Nkwantang Madina Municipality (LaNMA), Accra last Thursday, Mr Hini added that the platform has 6.2 million active users every 30 days.

The 2017 Mobile Money month is the sixth since its establishment and is being celebrated under the theme, ‘Expanding Digital Payments for Economic Transformation.”

“The success of the Mobile Money Service in Ghana is evident, and we appreciate that through ongoing initiatives to deepen awareness, more of Ghana’s unbanked population will sign on to our digital financial services platform,” he noted.

According to the Manager, activities lined up for the MoMo month include stakeholder conferences, campus activities (second and tertiary institutions), workshops for agents and consumer promotions.

The Manager stated that technological advancement and innovations are impacting on every fabric of life for which it has become critical to introduce digital products intended to provide solutions for financial needs.

He mentioned that the transactions support payments for shopping, banking and payments for utility and transport services among other transactions.

Speaking on threats to digital payment systems, the manager called on all to be extra vigilant about the activities of fraudulent people.

He gave assurance that MTN will continue to collaborate with the Police, media and the E-Crime institutions to mitigate mobile fraud and other related crimes.

“This year, MTN, in partnership with a number of institutions such as Ecobank, UBA and Fidelity Bank, has launched a number of financial products, including the Y’ello Save Account, Bill 4All and Tap2Pay also intended introduce financial transactions at the doorsteps of customers.

The Manager further mentioned that its biggest area of focus is the creation of an enabling payments system through its robust Mobile Money Platform to enable Bulk Payments Solutions for clients to make payments to many customers in one goal, among other payments.

Mr Hini mentioned that already a number of state institutions, including caterers on the School Feeding and Livelihood Empowerment Against Poverty (LEAP) programmes, have signed onto the MoMo initiative.