MTN Ghana pays over GHC22m in interest

Ghana’s leading mobile telecommunications company, MTN, the thebftonline.com has learnt, has paid over GHC8.85 million as interests to its Mobile money subscribers across the country.

The payments which was effected on the Sunday November 20, 2016 in collaboration with MTN’s 16 partner banks reached the 5.8 million customers.

The payment of interest which was the second in the year and is supposed to be done after every quarter comes following the issuance of the E-Money Issuers Guidelines, approved the Bank of Ghana for the payment of interests to Mobile Money subscribers in September this year.

Commenting on the 3rd quarter interest payment, the General Manager for MTN Mobile Financial Services, Eli Hini said, “MTN is committed to making Mobile Money more beneficial to subscribers beyond the convenience it provides and this payment points to that fact.”

Mr. Hini urged all Mobile Money subscribers to cultivate the habit of keeping money in their wallets at all times to enable them undertake numerous transactions on the go.

MTN in the first and second quarters of this year paid a total of 13.4 million cedis as interests to subscribers when the approval came for the interests to be paid to mobile money customers.

This brings the total interests payments made by the telecom giant to over 22 million Ghana cedis.

Currently MTN Mobile Money has close to nine million subscribers with over 55,000 merchant points across the country.

Currently there are a myriad of services available on the platform and these include: Local Money Transfer, International Money Transfer, General Payment Services including Online Payments, Savings & Micro-loans, School fees payment, Insurance i.e. Mi-Life (the cheapest life insurance service in the market) Bill Payment Services (DStv, ECG, Gotv, Box Office), ATM – Card less Withdrawal (expanded to 6 Banks ATM), Link to Bank Account (Mobile Wallet to Bank Integration) and Bulk Payments.