Accra, Ghana//-The Chief Executive Officer (CEO) of MobileMoney Limited (MML) today underscored the importance of innovation, collaboration, and partnerships that will enable the company to reach the next frontier of inclusion in Ghana.
Speaking at this year’s MoMo Fintech Stakeholder Forum which coincided with the 15th anniversary of MML, he said: “We are committed to driving innovation, collaboration, and partnerships that will enable us to reach the next frontier of inclusion. We will continue to invest in building a resilient and inclusive digital financial ecosystem that serves the diverse needs of Ghanaians”.
Beyond this forum, the company’s vision is clear: to continue empowering communities by expanding access to financial and digital services.
“We shall also focus on enhancing financial literacy, improving access to digital tools, and ensuring that our services are not only available but truly accessible to everyone. We will work collaboratively with governments, regulators, businesses, fintechs, and the media among others to create an enabling environment that supports digital and financial inclusion for all”, Mr Haruna assured.
He is certain that together they can create a world where financial and digital inclusion is not a privilege but a reality for all, emphasising that “15 years ago when we launched MTN Mobile Money in Ghana, our goal was to bring mobile and digital financial services platform that was secure, convenient and reliable to the doorstep of every Ghanaian – banked, unbanked and underbanked”.
15 years later, MTN Mobile Money has proven to be a game-changer in Ghana’s digital financial services landscape. Most importantly, it has transformed the lives of millions of Ghanaians, contributed to Ghana’s socioeconomic growth, and provided thousands of job opportunities, according to Mr Haruna.
It has provided a lifeline for people, businesses, and communities across the country as it democratises digital payments for all. The theme for this year’s MoMo@15 celebrations, “Empowering Communities – Celebrating 15 Years of Progressive Financial & Digital Inclusion” underscores the remarkable and profound work we have been able to achieve through our collective efforts, he said.
“We remain committed to our ambition to bring digital and financial services to customers across the length and breadth of the country”.
The Director of Fintech and Innovations at the Bank of Ghana (BoG), Kwame Oppong admonished that perhaps as the MoMo fintech players take a step back to reflect, they should also use the opportunity to take stock of where they are today.
To this end, he said the more recent update on the industry by the BoG indicated that mobile money (MoMo) as of June 2024 has about 24.4 million active users which means customers are transacting on a 90-day basis in a country of 33 million people.
“Certainly, if you look at the value of transactions that we are looking at today, if you look at the value of transactions that have taken place in the first quarter and if you look at the 551, 000 active mobile money agents, we are all contributing to ensuring that this business is successful”.
Because when it comes to trust and confidence the ability for people to know that they can deposit and they can withdraw their funds at any point in time, wherever they are, is very critical to ensuring trust and confidence that we speak of, Mr Oppong explained.
GHC22.2 billion a little more than that today has been mobilized because of the collective efforts of MobileMoney Limited and their competitors in the industry in concept with parties who enable this ecosystem. That GHC22.2 billion would otherwise have been under mattresses and obscure places here in this country. So, he commended MobileMoney Limited for this yeoman effort.
