Mobile communication giant, MTN has on Friday August 3, launched its 2018 Mobile Money Month at the Techiman market in the Brong Ahafo Region.

The MTN Mobile Money Month which was introduced in 2012 is celebrated in August each year to deepen awareness among Ghanaians of the benefits of the MTN mobile money service.

This year’s celebration was under the theme “Digitizing Payment in Ghana - The Role of Mobile Money”.

Speaking at the launch, Mr. Stephen Asare, Mobile Money Implementation Manager - Northern Ghana SBU said, the celebration of Mobile Money Month provides an opportunity to educate people about the use and features of mobile money.

“We have not relented on our efforts to continually educate Ghanaians on the benefits that mobile money provides within the financial ecosystem”, he stated.

He said today, technology is changing everything including the way humans interact with each other and with their environment, a situation he finds very timely and appropriate.

“Technological advancement is providing new opportunity for transacting business across the world”, he added.

Mr. Asare indicated there was a need to take a second look at the mode of payments in Ghana.

According to him, while transaction varies from person to person and institution to institution, digitized payments will go a long way to benefit all especially the economy.

He said "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 per cent to 69 per cent between 2014 and 2017. In sub-Saharan Africa, it increased from 54 per cent to 63 per cent within the same period".

Detailing how the service has improved over the years, Mr. Asare said "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".

"I am therefore 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 added.

Listing various packages and offers that MTN has made available to make cashless transaction easy, safe and secured for all customers, he said the mobile money month will also be used as an opportunity to educate the public and give away freebies.

“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 since 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. 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.”

On his part, Kentenhene and Dabehene of the Techiman Traditional Area, Nana Owusu Antwi Boasiako II advised all to develop the habit of savings.

According to him, it was prudent 'market women' deposit money on their momo rather than keeping the money on them after closing from the market.

Techiman Divisional Police Commander, Superintendent George Yeboah Afari who was also at the launch cautioned subscribers and merchants to “think twice” before initiating or sending out cash from their accounts, since according to him, scammers are on the rise.

MTN Ghana was first to launch the mobile money service in Ghana in 2009. The service has since being adopted by other telecommunication networks.

By: Eric Nana Prekoh / Ghanaguardian.com