AirtelTigo, a telecommunication giant
is in serious discussions with some banks and business people to inject liquidity
into its mobile money operations to drive expansion and promote transformation
in the financial inclusion agenda, Bright Owusu-Bempah, Chief Finance Officer,
has said.
Industry operators have raised
concerns that solving the liquidity management challenge is one of the next big
issues facing mobile money providers around the world.
“With mobile money, we are talking to some new
banks and financial institutions, we are also talking to businessmen, and people
who are interested in driving the whole agenda of financial inclusion, to ease liquidity
strain on our agents and customers.
At the moment we are putting
finishing touches on some of the discussions. There is going to be huge
transformation gap in our mobile money operations, where we hope that within
reasonable ranges you will be able to have access to agents who will always get
you your transaction processed,” Mr. Owusu-Bempah told Network of Communication
Reporters (NCR) at a media interaction during a courtesy call on the management
of the company in Accra.
According to data from the Bank of
Ghana from January to December 2017, AirtelTigo
recorded an amount of GH¢79 million accounting for 3.56 percent share of the mobile
money deposits in the country.
Mr. Owusu-Bempah explained that the
company’s strategy is to leverage on the opportunity to effect fresh changes and
that is what we are working on in the next couple of weeks. “What we are trying
to do is to increase volumes and also support the Agents with liquidity. With
our target it should be able to get to where we want to be.”
The
Chief Executive Officer of AirtelTigo, Ms Roshi Motman assured that with the
wider range of customers, after the merger, the company’s plans is to drive
accessibility and liquidity to position the company as a viable entity in the
mobile money value chain.
“Another
key piece of our strategy is going to be mobile money. Tigo Cash has a bunch of
customers; Airtel Money has its customers and now we want to expand that
footprint quite dramatically.”
“There are two things that are important from the customer perspective when it comes to mobile money, which is the accessibility, and agents having the liquidity to give out the money. We are going to be on top of our game so the business can thrive,” she said.
“There are two things that are important from the customer perspective when it comes to mobile money, which is the accessibility, and agents having the liquidity to give out the money. We are going to be on top of our game so the business can thrive,” she said.
She
said that the merged entity has an extensive distribution network and it would focus
on making things simpler, easier and better for customers.
“Our Mobile Financial Services will also
be greatly enhanced with combined agent networks and platforms,”she said.
Ghana's Mobile money and accounts
According to data from the Bank of
Ghana amount of money mobilized outside
the banking system through mobile money recorded GH¢2.3 billion ending December
2017,representing a growth of 84.6 percent over the December 2016 figure of GH¢1.3
billion.
These funds mobilized through mobile
money transactions are currently held by banks.
The data also showed that mobile money accounts reached 23.95million compared with 11.43million bank accounts as at end December 2017. Value of mobile money transactions was GH¢155.8 billion at end December 2017 showing a growth of 98.5 percent over December end position of GH¢78.5 billion in December 2016.
MTN came on top as having the largest share of deposits, accounting for more than 90 percent of mobile money accounts held at commercial banks. MTN as at October 2017 had GH¢2.1 billion representing 93.5 percent of deposits held at commercial banks.
Airtel/Tigo followed with GH¢79 million accounting for 3.56 percent share of the deposits. Vodafone had 2.52 percent of the market share with GH¢57 million deposits.
For some, the amount held by MTN makes a strong case for MTN in its quest to establish a “Digital Bank” soon in Ghana subject to securing the required regulatory approval.
Banks holding the accounts
Fidelity Bank led the pack in terms of the banks holding the largest share of mobile money deposits with GH¢583 million. ECOBANK had GH¢470 million, while CAL Bank held GH¢229m.
These were the top three banks out of the 19 banks captured in the Bank of Ghana data holding the mobile money deposits as at October 2017.
Direct jobs created by mobile money through engagement of mobile money agents was 194,688 in December 2017 compared with 136,769 in December 2016.
Analysts have argued that the Payment Systems and Services Bill, when passed this year, is expected to provide additional support for the deepening of the payment landscape by creating job opportunities for the youth, facilitating international inward transfers, providing convenience and choice for consumers.
The data also showed that mobile money accounts reached 23.95million compared with 11.43million bank accounts as at end December 2017. Value of mobile money transactions was GH¢155.8 billion at end December 2017 showing a growth of 98.5 percent over December end position of GH¢78.5 billion in December 2016.
MTN came on top as having the largest share of deposits, accounting for more than 90 percent of mobile money accounts held at commercial banks. MTN as at October 2017 had GH¢2.1 billion representing 93.5 percent of deposits held at commercial banks.
Airtel/Tigo followed with GH¢79 million accounting for 3.56 percent share of the deposits. Vodafone had 2.52 percent of the market share with GH¢57 million deposits.
For some, the amount held by MTN makes a strong case for MTN in its quest to establish a “Digital Bank” soon in Ghana subject to securing the required regulatory approval.
Banks holding the accounts
Fidelity Bank led the pack in terms of the banks holding the largest share of mobile money deposits with GH¢583 million. ECOBANK had GH¢470 million, while CAL Bank held GH¢229m.
These were the top three banks out of the 19 banks captured in the Bank of Ghana data holding the mobile money deposits as at October 2017.
Direct jobs created by mobile money through engagement of mobile money agents was 194,688 in December 2017 compared with 136,769 in December 2016.
Analysts have argued that the Payment Systems and Services Bill, when passed this year, is expected to provide additional support for the deepening of the payment landscape by creating job opportunities for the youth, facilitating international inward transfers, providing convenience and choice for consumers.
No comments:
Post a Comment