Ghana's Mobile Money interoperability platform (MMI) recorded a total 2.2 million transactions from May to December 2018. This shows a continuous increase in patronage of the service.
Ghana bagged $2.2 billion from remittances in 2017 from a total of $38.4 billion that Sub Saharan Africa recorded, according to the World Bank’s Migration and Development Brief.
GSMA and mobile money providers across Africa and the world have launched the GSMA Mobile Money Certification. The GSMA Mobile Money Certification is a global initiative to bring safer, more transparent, and more resilient financial services to millions of mobile money subscribers around the world.
Data released by the Bank of Ghana reveals that mobile money is the leading platform for payments in Ghana. During the first half of 2018, mobile money became the biggest form of payments platform in terms of value of transactions, replacing the erstwhile leading channel, cheques in this regard.
If someone told you MTN mobile money is just about sending and receiving money and cashing-out then they lied. The ubiquitous mobile money service has a lot of services to meet just about the needs of every Ghanaian; individuals and businesses.
Mobile money operators in Ghana especially MTN has received a lot of backlash from the public on the increasing spate of mobile money fraud.
On Wednesday, November 28, 2018 the Vice President of Ghana, Mahamudu Bawumia launched phased two of the Mobile Money Interoperability Platform. The launch concludes what the Vice President calls the Financial Inclusion Triangle, and ensures universal interoperability, making Ghana one of the few countries in the world to attain this feat.
Cross mobile money money transfer service known as the Mobile Money Interoperability launched by Vice President, Mahamudu Bawumia in May 2018, has recorded over 1.1 million in transaction volumes.