Mobile Money Advocacy Group hails Bawumia’s continental mobile money interoperability proposal

The Mobile Money Advocacy Group, Ghana (MoMAG) has commended Vice President and presidential candidate of the governing New Patriotic Party, Dr. Mahamudu Bawumia for his call on African countries to prioritize mobile money interoperability.

In a speech at the APN Continental Mobile Interoperability Symposium in Accra, Dr. Bawumia urged countries to create the necessary digital infrastructure for mobile money interoperability to thrive.

MoMAG hailed the Vice President’s statement, saying it will put Ghana’s mobile money business on a higher pedestal and speed up the vision of a cashless economy.

“The success of this initiative hinges on the critical role of mobile money agents, who are the backbone of the mobile money ecosystem,” the statement noted.

However, MoMAG noted that mobile money agents face numerous challenges, including limited network coverage, security concerns, high commission fees, and inadequate training, which must be addressed to achieve continental mobile money interoperability.

“Government, the Bank of Ghana, and all stakeholders must work together to create an enabling environment that supports and empowers mobile money agents to thrive.”

MoMAG in the statement jointly signed by its National Vice President, Albert Otu-Siaw, Operations Director, Stephen Quarcoo Gorman, and National Secretary, Mr. Kingsley J. Amoako-Atta also called for the addressing of internal interoperability challenges, such as sending money from one network to another, and the 1% e-levy on mobile money transactions.

“If government addresses these challenges, we can unlock the full potential of mobile money interoperability and drive financial inclusion, economic growth, and development.”

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