MTN Ghana pays GHC17 million as interests on mobile money

The payments commenced on Sunday (April 28, 2019).

This indicates that MTN Ghana has paid over GHC156.2 million in interest to Mobile Money customers from the inception of interest payment in 2016 to March 2019.

However, MTN Ghana’s payment comes a week after the scheduled date of interest payments announced by the Bank of Ghana.

The payments are being done in collaboration with the 17 partner banks of MTN Mobile Money.

Commenting on the interest payment for quarter one 2019, the General Manager for MTN Mobile Financial Services, Eli Hini said, “MTN’s consistent honoring of interest payments attest to our commitment in ensuring that customers of MTN Mobile Money enjoy the full benefits of the service.”

Mr. Hini encouraged all Mobile Money subscribers to continuously keep money in their wallets for their daily transactions whilst enjoying interest instead of keeping cash with its associated risk.

“Keeping money in your wallet helps you to accrue more interest,” he explained.

The Bank of Ghana approved the payment of interest on mobile money transactions in September 2016 in line with provisions of the Electronic Money Guidelines.