MTN Mobile Money (MoMo) celebrated 15 years of transforming Ghana’s financial landscape by honoring 19 partners for their unwavering support over the past decade.
The honorees received cash prizes, plaques, and a motorbike at the MoMo National Stakeholder Dinner and Awards Night ceremony held on Friday.
The awardees included “Nsano; appsNmobile; Hubtel; BluPenguin; Letshego; Jumo; IT Consortium; Agent Flex by Tyra and FAB; Electricity Company of Ghana; Keed Ghana Limited; Ericsson; First Atlantic Bank; Ghana Interbank Payment and Settlement Systems (GhIPSS); MoMo Agents Association of Ghana; MoMo Agents Advocacy Group; Bank of Ghana; IK Bediako; and China Mall”.
Additionally, Madam Rita Tetteh, the woman featured in MoMo’s first advertisement in 2009, was presented with a cash prize of GH₵30,000.
The evening, dedicated to celebrating the impact of MTN Mobile Money (MoMo) on Ghana’s economy and society, saw stakeholders, partners, and executives gather to commemorate 15 years of growth and innovation.
This milestone dinner and awards night highlighted MoMo’s journey as a pioneer in mobile financial services in Ghana, advancing financial inclusion and laying the foundation for a digital economy.
The Chief Executive Officer of Mobile Money Limited, Shaibu Haruna, expressed his gratitude to Ghanaians for embracing MoMo while underscoring the company’s commitment to financial empowerment through partnerships with banks.
“Our objective as a mobile money provider is to empower our customers financially. We partner with banks to facilitate credit, and we are constantly improving our credit scoring system to minimize loan defaults,” he said.
MoMo’s credit scoring system evaluates customers based on network usage behavior, allowing for more accurate assessments and enhancing lending reliability.
Mr Haruna also emphasized the importance of Ghana’s evolving financial landscape, stating, “The journey to financial inclusion and economic expansion relies on establishing a credit economy. Access to credit enables Ghanaians to invest, meet their needs, and create a ripple effect that boosts the national economy.”
Looking to the future, he stressed that MoMo remains committed to educating customers on fraud prevention.
“Fraud is a growing issue, and we’ve launched numerous campaigns to alert customers to socially engineered schemes,” he noted, urging users to stay vigilant and report suspicious activity.
The Chief Product and Service Officer for Mobile Money Limited, Sylvia Otuo Acheampong, described the last 15 years as “a journey of discovering new ways of transacting, payments, and lending through partnerships with banks and fintech companies.”
She shared exciting plans for the future, including the expansion of cross-border payments and the introduction of two new loan products, Extra Cash and Extra Balance, offering customers overdraft options for seamless transactions.
“We aim to expand lending services and enhance cross-border payment capabilities through ongoing projects like PAPS, simplifying transactions across countries,” Ms Acheampong added.
On combating fraud, she reiterated the importance of customer education, encouraging users to protect their personal information and PIN codes.
“Fraud often relies on social engineering tactics, so we are actively educating customers. Always verify who is calling, and contact our official lines for clarity,” she advised.
The CEO of GhIPSS, Archie Hesse, reflected on Ghana’s journey toward digital payments, which began in 2007.
“When we started, banks were the primary financial institutions. But MTN MoMo has since become the go-to payment method for many Ghanaians, especially in the informal sector,” he stated.
Mr Hesse praised MTN’s recent adoption of the GHQR code, noting that its integration with MTN’s services will expand cashless payment options across sectors. “The GHQR is cost-effective and convenient for both merchants and customers. A single QR code can now be printed, laminated, and displayed by any vendor for easy payment,” he explained.
By Jessel Lartey Therson-Cofie
