Skip to main content

Banks not threatened by mobile money - Bankers Association


By: Fred Yaw Sarpong

­The Ghana Bankers Association has downplayed the assertion that the rise in mobile money operations in the country is a threat to the banking industry. ­
                                                      Mr. Alhassan Andani  

The president of the association, Mr. Alhassan Andani in an interview with the Daily Express alluded that banking operations go beyond just payments, so banks cannot be scared by mobile money operators.

“Mobile money is just part of the things that we do and we collaborate on as well. ­ ere are several things that have come and have not threatened banking operations,” the Managing Director (MD) of Stanbic Bank Ghana said.

A 2016 Ghana Banking Survey conducted by Price Water House Cooper (Pwc) indicated that the mobile money business has made significant strides in recent years. ­ e report said registered subscribers increased from 3.8 million to 13.1 million, and registered agents also increased over tenfold from 8,660 to 93,376.

“­The number of transactions also increased substantially from 18 million to 266 million, while the value of transactions soared from GH¢594 million to GH¢35 billion. By the end of 2015, the mobile money balance on float stood at GH¢548 million,” the Pwc report stated.


Mr. Andani however believes that mobile money business is rather enhancing the activities of banks

Comments

Post a Comment

Popular posts from this blog

Shortage of weighing cards hit major hospitals in Accra

By: Fred Yaw Sarpong- Daily Express There is scarcity of Child Health Records Book (weighing cards), in some major public hospitals in the capital, information reaching the Daily Express indicates. Checks by this paper revealed that while some of the hospitals have being encountering the shortage for about a year now, others started experiencing it six months ago. In place of the Child Health Record Book (weighing card), the nursing mothers are given a single card on which information of children are recorded on it. Those hospitals identified are the Korle Bu Teaching Hospital, Korle Bu Polyclinic, Kaneshie Polyclinic, Adabraka Polyclinic and the Ridge Hospital. At the Korle Bu Teaching Hospital, the nursing mothers are given yellow cards in place of the weighing cards. The Public Relations Secretariat at the Korle Bu Teaching Hospital said such information has not come to their notice and for that matter they cannot comment on it. “We do not have some ...
Post a Comment
Read more

ABL launches chibuku super in Bolgatanga

By: Fred Yaw Sarpong sarpong007@gmail.com Accra Brewery Limited (ABL) has officially launched the Chibuku Super drink at Bolgatanga in the Upper East region with the aim of reaching a lot of customers. Mr. Thomas Nii Ponku, Supervisor in charge of Chibuku Super at ABL told Daily Express that the management decided to launch the Chibuku Super drink in the Upper East region because they’ve realized it is similar to a traditional drink in the region. “Chibuku is like a well developed pito, a traditional drink made from fermented millet or sorghum in the Northern part of Ghana. So the idea is to provide them with similar drink,” he added. Mr. Nii Ponku disclosed this when members of the Institute of Finance and Economic Journalists (IFEJ) toured the facility of ABL to acquaint themselves with the expansion project at the factory. He mentioned that after a feasibility study, they realized there is a potential market for the product in the northern part of Ghana ...
Post a Comment
Read more

Barbering Salons, bridging the unemployment gap in Ghana

By: Fred Yaw Sarpong Barbering business in Ghana is money making venture, depending on the location of the shop. Various barbering shops scattered across the country charges according to the location of the shop. The nature and sustainability of every barbering shop depends on the location of the shop. The location will determine how much one can charge a customer for barbering his or her hair. Checks indicate that some barbering shops located at Spintex, East Legon and Osu Oxford street charges between GHc15.00 and GHc20.00 per hair cut. At South La Estate, it will cost a customer to pay GHc4.00 for hair cut, while one will have to pay GHc3.00 to barber his or her hair at a place like Nima, Maamobi and Mallam Gbawe. Royal Vulture Executive Barbering Salon is one of the biggest barbering salons one can locate within Accra. One is its shops is located at Madina, near Taxi rank while one is located at Accra New Town, near the Post Office. Customers at Madina pay GHc7.00 ...
7 comments
Read more