The Mobile Money Agents Association of Ghana (MMAAG) has threatened to embark on a demonstration to register their displeasure over Government’s proposed e-levy of 1.75%. This will be followed by a nationwide strike if Government does not hear their cry. According to the agents, they see the 1.75% levy as very regressive and critical to …
Mobile money transactions far outstripped cheque transactions by approximately GHS232 billion in the first four months of 2021, Right Reverend Patricia Sappor, President Chartered Institute of Bankers(CIB), has disclosed. She said according to the data from the Bank of Ghana, the value of mobile money transactions for the first four months of 2021 totaled GHS301.1 …
The Finance Minister says government is looking to introduce innovative ways of raising revenue after it scrapped the payment of tolls on tolled roads. Ken Ofori-Atta said government is proposing a 1.7% phone transactions levy payable by mobile money users per transaction above ¢100. He said this will help government to shore up revenue inflows …
When the COVID-19 pandemic took hold early in 2020, a cloud was cast over the prospects of maintaining standards of living and the provision of basic but vital goods and services to the unbanked majority who would not be able to execute cash linked transactions. It quickly became clear that mobile technology, and mobile money …
A microfinance monitoring visit one day took me to Bawku in the Northern Region of Ghana, where we visited microfinance groups which had benefited from microfinance loans from one rural bank. The groups were mainly women who were involved in various economic activities. I remember the excitement on the faces of women who had been …
The latest payments platforms report released by the Bank of Ghana, covering the first half of 2021 has disclosed that mobile money transactions has retained its place as the most preferred mode of transferring money, ahead of cheques. Indeed the gap between mobile money and cheques continues to grow, measured by both number of transactions …
The mobile money platform has solidified its position as the most widely used and accepted payment system in the country, as data from the Bank of Ghana shows its transactional value is bigger than all the others combined. According to the Summary of Economic and Financial report (July 2021), the mobile money payment platform has …
Even though the rollout of the mobile money platform since a decade ago has been largely successful, as it has widely gained acceptance, most transactions are still cash driven, a situation Bank of Ghana’s Director and Head of Payment Systems, Dr. Settor Amediku, says requires more collaboration of both the regulator and players to improve …
The GhIPSS 2021 half year performance report has shown that the GhQR and other new electronic services have started making gains. These electronic channels, including GhQR, ACH Direct Credit Near Real Time, GIP Debit pull, and Proxy Pay introduced by Ghana Interbank Payment and Settlement Systems (GhIPSS) cumulatively recorded 358,000 transactions in the first half …
Members of the Mobile Money Agents Association of Ghana (MMAAG) have announced in increase in cash out services effective, Thursday July 1. This means customers will now have to pay more for cash-out services than before. A statement issued Monday June 28 by the association appealed to customers to bear with them and comply. “To …