Tag: mobile money
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Value of MoMo transactions shoots up by over 120% in a year – BoG
The value of mobile money transactions has more than doubled in the last twelve months, according to the Bank of Ghana. The total value shot up by over 120 percent from February 2020 to February 2021. On a monthly basis, the value of transactions from January to February saw a minimal increase of about 1…
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Value of MoMo transactions drops after five months of consistent increase
The total value of Mobile Money transactions has fallen for the first time after five months of continuous increase. The surge began in May, as it shot up from GHS32.8 billion in April to GHS41.5 billion, representing a whopping 26.5 percent increase. But after several months, it has dropped from GHS58.8 billion in September to…
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Volume and value of MoMo transactions will keep rising – Banking Consultant
A Banking consultant, Nana Otuo Acheampong, says the significant surge in the volume and value of mobile money transactions in the first 8 months of the year, should continue unabated in the last quarter of 2020. The volume and value of mobile money transactions from January to August of 2020, increased by 41 percent and…
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Value of Mobile Money transactions double in a year – BoG Report
The value of mobile money transactions has more than doubled in the last twelve months, according to the Bank of Ghana. The total value shot up by over 110 percent from August 2019 to August 2020. This is contained in the Central Bank’s Summary of Macroeconomic and Financial Data report. From January to August 2020,…
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Fact-check: Dr. Bawumia’s 15 million mobile money users claim, others checked
The Vice President of Ghana, Dr Mahamudu Bawumia on Wednesday, August 19, 2020, while addressing the New Patriotic Party’s (NPP) third town hall meeting and results fair in Accra, made a number of claims regarding mobile money interoperability and the gains made with its introduction. Among other things, Dr Bawumia said Ghana has become the…
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![G-Money gives Telcos a run for their money [Article]](https://citibusinessnews.com/wp-content/uploads/2020/06/MD-of-GCB-Bank-scaled.jpg)
G-Money gives Telcos a run for their money [Article]
According to the World Bank, Ghana is the fastest-growing mobile-money market in Africa with close to 12 million customers at the end of 2019. Currently, the mobile money subsidiary of MTN is the dominant player with about 90% of mobile money transactions, followed by the subsidiaries of AirtelTigo and Vodafone. Having being in the industry…
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MTN’s profit grows by 62% to record GH¢350m in 2020 1st quarter
MTN recorded profit after tax of about 350 million cedis for the first three months of 2020; representing 62 percent growth over the 2019 figure of 215 million cedis. This means between January and March 2020, the telecommunication company recorded about 134 million cedis more in profit after tax. For the first three months of…
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Containing COVID-19: BoG removes charges for some momo transfers, adjusts limits
The Bank of Ghana has announced that electronic transfer of money of up to GH¢100 will not attract any charge from March 20, 2020. In a statement, the Central bank said the decision however excludes cash out transactions on the same network or to different networks. According to the Bank of Ghana, the move is…
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MTN Ghana’s profit increases to GH¢1bn in 2019
MTN Ghana recorded a profit after tax of one billion cedis for 2019. This is 33.56 percent higher compared to the GH¢754.67 million recorded in the preceding year [2018]. The telecoms company attributes this to an improvement in active data users, growth in smart phones and an increase in data usage. MTN’s total revenue for…
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Bawumia urges ECG to boost revenue collection as it launches new mobile app
Vice President, Dr. Mahamudu Bawumia, has charged the Electricity Company of Ghana (ECG), to improve its collection rate to help turn around the fortunes of the energy sector. The power distribution company currently has a collection rate of 66 percent, a situation that is partly accountable for the recurring debt in the energy sector. But…