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Tag Archives: MTN

MTN freezes account of ponzi scheme over GH¢11m default

General Manager of Mobile Financial Services at MTN Ghana, Eli Hini

The Financial Intelligence Centre (FIC) is expected to direct MTN on how it could disburse about eleven million cedis (GH¢11,000,000) to customers whose monies have been locked up in the company’s mobile money services. About thirty thousand (30,000) customers have had their monies locked up after being lured into a ponzi scheme operated by Savanna Brokerage Investment. MTN has since ...

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SMEs skeptical of mobile money services (Audio)

telecom mobile money

Businesses are still skeptical of the use of mobile money despite the boom in patronage of the service. Citi Business News’ checks with some small scale business owners show mixed reactions to the use of mobile money services. This means more needs to be done to increase patronage. In the build up to the Financial and Technology Summit as part ...

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MTN launches its IPO today  

Group Vice President for Southern and East Africa and Ghana, Ebenezer Asante

MTN will today launch its Initial Public Offering (IPO) to allow it raise some amount of money from the public. The company is by this exercise give at least thirty-five percent access to the general public to own a stake in its operations. The move is also to allow the telecom company fulfill a regulatory obligation regarding the purchase of ...

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Fibre cuts major cause of poor telecom services

NCA

Fibre optic cables have aided the connection of platforms for improved service delivery by telecom operators. However the challenge of dealing with their regular destruction, has left most telecom operators desperate. The phenomenon not only drains resources but creates a gloomy picture for improved services. Citi Business News has been engaging industry players and they suggest that robust measures be ...

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Glo serves only a third of expected coverage area

Acting Director General of the NCA, Joe Anokye

It has emerged that telecoms company, Glo, covers only a third of the total number of districts it is to cover in terms of its 3G coverage obligations. This is the conclusion of a first quarter Quality of Service Monitoring conducted by the National Communications Authority (NCA). The company is therefore expected to improve upon its operations in order to ...

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Telcos not taking over banks with interoperability

telecom mobile money

Telecom industry players have insisted they are not taking the place of banks even with the launch of the mobile money interoperability. The telecom operators however believe the new system should help reduce the number of people not captured within the banking population. The comment also comes three days to the official launch of the mobile money interoperability. The mobile ...

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Mobile money boosts MTN’s 2018 first quarter growth

Group Vice President for Southern and East Africa and Ghana, Ebenezer Asante

MTN Ghana has recorded a 29.3 % increase in revenue for the first quarter of 2018. This growth has largely been driven by increased data and mobile money subscription for the telecoms giant. For the first three months of this year, MTN recorded more than fifty percent rise in revenue from the sale of data. In addition, the telecom company’s ...

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MTN’s self service kiosks not a threat to banks – Analysts

Mobile-Money transaction

MTN’s new self service kiosks will least threaten other similar services provided by commercial banks. As a result, the development should not result in any apprehension among the banking industry. That is the position of Financial Analyst, Sam Bediako Asante. The telecom giant’s new service is to deepen its mobile money business and drive competition. The introduction of the self ...

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MTN introduces self service kiosks for mobile money

MTN self kiosk

Customers of MTN’s mobile money services should in the coming months be able to carry out their transactions at the new self service kiosks to be introduced by the company. The new model means that customers will not necessarily have to visit designated vending points to transact money transfer business. It is however unclear how this will affect the number ...

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MTN, 4 others to list on bourse by year end  

Managing Director of the Ghana Stock Exchange, Kofi Yamoah

The Ghana Stock Exchange has disclosed that at least four companies are expected to list on the bourse after MTN before the end of this year. For now, the companies are unknown but the Managing Director of the Ghana Stock Exchange, Kofi Yamoah says the four companies are likely to list on the bourse after MTN. “For the main market, ...

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