No Result
View All Result
Saturday, May 21, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Manufacture of petroleum products push PPI to 31.2% in April

    Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

    GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Agribusiness Chamber demands resignation of Agric Minister over sector woes

    BoG Governor confident inflation has peaked; expects rate to start declining

    ActionAid Ghana Appoints John Nkaw as Country Director

    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Manufacture of petroleum products push PPI to 31.2% in April

    Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

    GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Agribusiness Chamber demands resignation of Agric Minister over sector woes

    BoG Governor confident inflation has peaked; expects rate to start declining

    ActionAid Ghana Appoints John Nkaw as Country Director

    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Telcos want mobile money limits increased

bycitibusinessnews
October 18, 2016
in Banking And Finance, Government, Local Economy, TECHNOLOGY, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Telecommunication companies are impressing on the Bank of Ghana to review the maximum amount for mobile financial service transactions in the country.

The telcos argue that they are sometimes constrained over the current 5000 cedis maximum and therefore would appreciate an upward push.

The suggestion also follows a new regulation on mobile financial services that the central bank has developed to strengthen Ghana’s mobile financial space.

ADVERTISEMENT

Speaking to Citi Business News on the calls by the telcos, the CEO of MTN Ghana, Ebenezer Twum Asante maintained that he is hopeful of a positive outcome of negotiations with the regulator for a possible adjustment.

“The transaction limit is currently at about 5000 cedis and the last time it was reviewed was some three or four years ago…we are currently engaging with the central bank to see whether the limit can be raised again,” he stated.

The current regulations categorizes the customers of mobile money services into three; minimum, medium and enhanced.

Under the regulations, every minimum Know Your Customer (KYC) account issued is entitled to a maximum balance limit of GH¢1,000, an aggregate daily transaction limit of GH¢300 and an aggregate monthly transaction limit of GHS¢3,000.

Also, every medium KYC account issued is allowed a maximum balance limit of GH¢ 10,000, an aggregate daily transaction limit of GH¢ 2,000 and an aggregate monthly transaction limit of GH¢20,000.

In addition, every enhanced KYC account issued shall be subject to a maximum balance limit of GH¢ 20,000, an aggregate daily transaction limit of GH¢5,000 and an aggregate monthly transaction limit of GH¢50,000.

Mobile money statistics – BoG

Figures released by the Bank of Ghana show that total volume of mobile money transactions increased by over a hundred percent from 2015 to the end of July this year.

The figure increased from 132,579,112 to 265,214,110 between the period.

Similarly, the value of transactions also increased by almost 119 percent from 16.943 billion cedis in 2015 to 37.068 billion cedis in July 2016.

Correspondingly, the total value of float at end of July 2016 is reported to be GH₵703.64 million compared with GH₵363.65 million in July 2015.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Related Posts

Top Stories

Manufacture of petroleum products push PPI to 31.2% in April

byEllen Dapaah

Recent data from the Ghana Statistical Service show that producer price inflation, the average price of goods and services received...

Read more

Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

Akufo-Addo worried over impact of fertiliser shortage on poultry industry

Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

BoG Governor confident inflation has peaked; expects rate to start declining

BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

Next Post

World Bank bemoans growing inequality in sub-Saharan Africa

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.