MTN Boosts Digital Financial Transactions

Eli Hini, General Manager, Mobile Financial Services of MTN Ghana, has indicated that management is taking steps to position the company to be the leader in the mobile financial services sector in the country and beyond.

At the recent launch of the 2018 Mobile Money (MOMO) Month at Kasoa under the theme, ‘Digitizing Payments in Ghana-The Role of Mobile Money,” he opined that the company is also investing heavily in technology to achieve the vision.

He indicated that MTN would organize a number of activities under the theme, ‘The Implications of Additional Taxes on Mobile Money Transactions’ as part of activities marking the MOMO month.

According to him, MTN, which has over 9 million active subscribers, 100,000 agents, over 50,000 merchants across the country and 17 partner banks, would position itself to lead the digital agenda via MOMO.

“We are particularly excited that government has taken steps to make payments electronically according to Vice President Dr Bawumia,” he disclosed.

MTN’s management chose to focus on digital payments because of the potential it has to help drive the financial inclusion and push us to another level in driving the cashless economy agenda, he explained.

Mr. Hini revealed that MTN Ghana started talks on using mobile money to drive the cashless agenda in Ghana’s economy a few years back during which time it championed public education to allow people to familiarize themselves with the technology before going completely cashless.

“In monitoring global trends, research has shown that globally the number of adults, who have accounts through either a financial institution or mobile money, increased from 62% to 69% between 2014 and 2017.

He stated that in sub-Saharan Africa, it increased from 54% to 63% during the same period, adding that in Ghana MOMO has been accepted by virtually everybody in transacting business and making payments.

The General Manager stated that the time has come for all forms of payments to be digitized to enable individuals, institutions and country, in general, to reap the benefits.

By Solomon Ofori