Mobile Money is a key catalyst of eCommerce today

Mr Haris Broumidis, Chief Executive Officer of Vodafone Ghana, has projected that the 26 per cent of internet penetration for Africa and 103 million Africans active on social media indicates mobile money's role in eCommerce.

Speaking at the Second Ghana e-Commerce Expo and Conference in Accra designed to help grow online trade, Mr Broumidis mentioned how Africa's first mobile money platform, Mpesa is making it possible for customers to conveniently pay bills, buy phone credits, and conduct other activities.

A statement copied to the GNA said the CEO noted that mobile money has undoubtedly transformed the way businesses think and operate.

"On the average, buying trends are fast moving from the physical to online with about 13 percent of consumers willing to buy online due to convenience. At Vodafone, we want to assure our customers that our platform is tried and tested and proven to be the most effective world over," he said.

He said the strategy of the telecommunication company remains unchanged as they continue to create platforms to empower and liberate their customers.

Addressing the "Rise of Mobile Money and the Future of Cash", Mr Broumidis said mobile money would not cause the death of cash in any way; but rather, complement the platform, adding that despite the rise of credit cards and mobile money platforms, cash is still instrumental.

According to the statement, Mr Broumidis said physical cash is still primarily the key medium by which transactions are conducted and people still find cash easy to carry, widely accepted and reliable.

He noted that cash is still stored by people for emergencies and cash is still seen as difficult to trace and a sure bet for confirming that a transaction has been properly finalized.

The two-day event on the theme: "Unleashing Ghana's Online Potential," is the largest gathering of companies and professionals from electronic commerce websites, Internet Service Providers, Telecommunications, Software Designers, solution providers in the mobile commerce, Banks and e-banking among others

Mr Felix Kwakye Ofosu, the Deputy Minister of Communications speaking at the opening of the conference, said government is still investing in technologies to bridge the digital gap to improve the lives of citizens.

Some of the notable speakers at the conference were Mr Paul Asinor, Event and New Media Director, OML Africa; Mr Frank Oye, Executive Director, Margins ID; Mr Prince Kofi Kludjeson, Executive Chairman, Alltel; Mr Harsh Sarda, MD, Nielsen, Africa Vertical Markets; Mr Albert Biga, CEO, Zoobashop; Mr Derek Appiah, Country Manager, Microsoft; and Mrs Sandra Abrokwa Kyerematen, Country Manager, Tonaton.