MTN Ghana Pays $56m as Interest to Mobile Money Subscribers

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MTN Ghana says it has made payments of over GH25 million ($56 million) in interest to about 7.8 million Mobile Money customers for the first half of 2017.

The amount comprises of GH13.6 million paid in May for quarter one and GH11.5 million paid in August for quarter two this year. The company made the payment in collaboration with the 16 partner banks of MTN Mobile Money. The second half payment in 2017 brings the total to over GHS70 million in interest payments made by MTN to subscribers since January 2016.

The second half payment in 2017 brings the total to over GHS70 million in interest payments made by MTN to subscribers since January 2016.

Commenting on the interest payment for the first half of the year, the General Manager for MTN Mobile Financial Services, Eli Hini said, “MTN is committed to adhering to the rules and regulations that govern its Mobile Money operations and will ensure its customers reap the benefits of using the mobile money service.”

“Since approval was received for interest payment from the Bank of Ghana, MTN has been regular in paying interest to its customers. Subscribers are encouraged to load and keep money in their wallet or alternatively, customers can save their money through Y’ello Save to earn more interest or buy treasury bills using the TBill4All service,” he added. MTN Mobile Money has over 7.5 million active users with over 75,000 merchant points across the country.

MTN Mobile Money has over 7.5 million active users with over 75,000 merchant points across the country. There are a myriad of services available on the platform, including: local and international money transfer, general payment services such online payments, savings & micro-loans, school fees payment, aYo Insurance, bill payment services (DStv, ECG, Ghana Water Bill,

There are a myriad of services available on the platform, including: local and international money transfer, general payment services such online payments, savings & micro-loans, school fees payment, aYo Insurance, bill payment services (DStv, ECG, Ghana Water Bill, Gotv, Box Office), ATM – card less withdrawal (expanded to six Banks ATM), link to bank account (mobile Wallet to bank integration) and bulk payments.

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