Ghana: MTN Declares August As Mobile Money Month

The leading telecommunications company in Ghana, MTN, has dedicated the month of August to Mobile Money to create awareness about the service and highlight the importance of creating a cashless economy.

The month-long celebration which is under the theme 'MTN Mobile Money: creating a cashless economy with your mobile phone,' was launched on August 1st at a brief ceremony held at the Ridge Office of MTN Ghana.

Addressing a gathering of staff and selected media, Michael Ikpoki, Chief Executive of MTN, said"MTN Mobile Money Month is a good opportunity for all Ghanaians to be educated on the immense benefits Mobile Money brings and how the service can enrich our individual wellbeing and business efficiency."

He said "This is also to begin our advocacy for a cashless society in the country to reduce the risk of carrying cash around for everyday business transactions."

A roundtable conference was later held at the Movenpick Hotel on Friday August 3rd where stakeholders in the financial sector and the Bank of Ghana discussed the theme for the month-long activity.

Presenting MTN's position paper on a cashless economy, the Sales & Distribution Executive of MTN, Mr. Ebenezer Asante, noted that a cashless economy would ensure a significant reduction in the cost of printing, replacement and transportation of cash along the value chain.

He said, "Mobile Money services have transformed the way in which people handle their finances, allowing people to transfer money, make purchases and pay bills with a few key strokes on their mobile phones."

Other speakers at the function included Kofi Bentil, Vice President, Imani Ghana; Edward Effah, MD, Fidelity Bank; Kwame Ansah, Head of Payment Systems Oversight, Bank of Ghana; and Mr. Peter Zetterli, Representative of the World Bank/Consultative Group to Assist the Poor (CGAP).

Currently there are more than two million MTN Mobile Money subscribers. MTN Mobile Money users can pay their DSTV and ECG bills and school fees, purchase Starbow airline tickets, as well as pay for goods purchased at Melcom Plus, Max Mart and other online shops such as Ghanabuys and Sellphone Ghana. These services have been designed to create more flexibility, accessibility and convenience for customers.

Other activities lined up for the Mobile Money Month include: floats through principal streets of selected business districts, promotions for merchants and subscribers, campus activations, direct engagement with subscribers in various marketing centers, amongst others.

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