MTN Mobile Money month launched in Madina

By: Anthony Sedzro

MTN Ghana has launched this year’s Mobile Money month, with a lot of giveaways for subscribers and users of its Mobile Money (MoMo) service in Madina market, one of the busiest markets in Accra yesterday.

At a lively and fun-packed event on the theme , Ghana’s number one mobile telecommunications operator, launched the 6th edition of the annual event with speeches, an educative drama skit, giveaways and registrations for people interested in signing up to the MoMo service.

There was a lively drama performance by Golden Eye Pictures, a local drama group which depicted how everyday people including food vendors such as ‘waakye’ sellers, taxi drivers and retailers use Mobile money platform to receive payment for their services thus bringing in convenience and safety.

Giving the keynote address on the theme “Expanding Digital Payments for Economic Transformation”, Eli Hini, General Manager, Mobile Financial Services for MTN, said gone were the days when money was remitted through people and commercial drivers with its attendant risks and uncertainties. Additionally, in times past we had to join long queues to undertake very basic money transfers but the introduction of the mobile money service has taken away these burdensome procedures.

Hini further explained that the MoMo service has been growing significantly in Ghana through MTN’s education and awareness creation efforts.

“This year marks the 6th anniversary of the Mobile Money Month celebration and as a result of the constant awareness creation and education, today, the MTN Mobile Money platform has over 6.2 million active users (30) days and over 75,000 active agents nationwide,” Eli Hini disclosed.

A drama skit depicting the importance of mobile money for food vendors

Only about 33 percent of Ghanaians have bank accounts of any sort. This means majority of the money in the hands of Ghanaians is outside the banking system. The General Manager said this year’s MoMo Month-long celebration will help to bring more of the unbanked into the financial system.

“The success of the Mobile Money Service in Ghana is evident and we anticipate that through the activities scheduled for this month, more of Ghana’s unbanked population will sign on to the digital financial services platform.”

The General Manager also disclosed that in association with 16 partner banks, MTN has deployed numerous innovative products aimed at driving a cash-lite society.

“….this year MTN, in partnership with Fidelity Bank, launched the Y’ello Save Account, which enables customers to save and earn 12% interest per annum on money saved. We had earlier launched TBill4All in partnership with Ecobank to enable Ghanaians to buy Treasury Bills using their MTN Mobile Money wallets,” Hini said.

The significant growth in the digital payment service has attracted fraudsters who try to scam unsuspecting people using the mobile money service. Hini advised the people present and subscribers to be cautious.

MTN MoMo launch at Madina - Mobile Money
An MTN desk registering patrons for the MoMo service at the launch in Madina market

“But economic transformation through digital financial services is being challenged by the activities of some nefarious individuals,” he revealed.

“I would encourage everyone to be extra vigilant of fraudulent acts and activities….We also encourage our customers to take advantage of the short videos and safety tips on Mobile Money and Fraud avoidance to educate themselves,” he advised.

As part of this month’s celebration, wallet-to-wallet MTN transactions below Ghs5 will be free for the first two transactions and also subscribers will enjoy 50 percent bonus data if the data was bought with MTN mobile money amongst others.

Some of the other activities lined up for the month-long celebration include a stakeholder conference, campus activations in tertiary institutions, a hackathon app completion, workshops with agents and merchants, regional activations and others.

Present at the launch event were Ebenezer Twum Asante, CEO, MTN Ghana; Alberta Fiamor, Senior Manager, MTN; Noel Kojo-Garson, General Manager, Consumer Marketing, MTN; and other officials.


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