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Resilience of the MoMo industry is being tested with the introduction of E-levy- MTN Northern Sector Senior Manager for General Trade stated.


MTN Ghana has launched its Annual MoMo week celebration in Tamale with the call on customers to be vigilant and extra careful on fraudsters. The telecom giant since 2012 celebrates MoMo Month to create awareness about the digital payment platform, drive financial inclusion and reward thousands of Customers, Agents, and Merchants.

This year’s celebration is on the theme; “Accelerating Growth in Digital Payments – The Role of Partnerships.” According to MTN Ghana, several years before COVID, MoMo had established itself as a critical element in facilitating trade and other forms of financial transactions.

The COVID pandemic it said to make MoMo even more relevant. MTN Ghana while assuring customers of their continuous effort to address fraud activities cautioned customers not to expose their PINS nor answer calls from fraudsters who on daily bases harass customers with calls and massages.

MTN MoMo has impacted the lives of millions of Ghanaians both home and abroad and we are humbled by the strides the fintech sector continues to make. The impact and success stories are immeasurable – offering mobile financial services to the banked and unbanked, and creating job opportunities for millions of Ghanaians.

Speaking at the launch at old Tax rank in Tamale, Northern Sector Senior Manager for General Trade, Simon Amoh expressed the company’s gratitude to the various players in the industry who facilitated the launch of one the most revolutionary products to have been introduced onto the Ghanaian Finance market.

The players Mr Amoh mentioned are the regulators, Partner Banks, Agents, and Merchants dotted across the length and breadth of Ghana. The successes chalked by MoMo, Mr Amoh said can be partly attributed to the mass awareness campaigns undertaken through their month-long campaign dubbed MoMo Month celebration.

According to him, digitization and innovation are at the forefront and consumers are opting for fast and convenient ways to make payments and transactions, digital payments have come to stay. Fostering and accelerating growth in digital payments, Mr Amoh said, require the shared responsibility of all stakeholders, to foster gains, build economies of scale in the sector and promote sustainable economic growth to leverage the power of collaboration and partnership.

Commenting about challenges, Mr Amoh said successful people faced challenges which evaluate their tenacity adding that, the resilience of the mobile money industry he said is being tested with the introduction of Electronic Transaction Levy (E-levy) introduced by the government. The company Mr Amoh said continues to see a change in customer behavior, and we keep monitoring the space to see the outcome overall. It is early days since the introduction of the levy, but MTN is confident of sustaining its growth. He said

Source: Zaanews/Mohammed Ibrahim

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