Tigo has signed a US$2 million agreement with the International Finance Corporation (IFC) and the MasterCard Foundation as part of efforts to expand mobile financial services in Ghana. The partners said the agreement will focus on customer education and acquisition, with the IFC to provide advisory services on business development, customer profiling and agent network
Stanbic Bank Ghana has introduced the Stanbic MoneyWallet Multi-Currency Card, the first of its kind in Ghana. The new MasterCard-branded card offers a safer and more convenient alternative to foreign currency notes and allows both customers and non-customers of the Stanbic Bank to load and have access to up to four foreign currencies on a
MFS Africa has announced the launch of mjara Loans, a mass-market mobile money-based loan product. mjara Loans builds on the company’s existing KwikAdvance salary-advance loan product. The mjara Loans service is available to all MTN Mobile Money users, and will be extended to other mobile networks later this year. MFS Africa research shows that the
Thames Card Technology Ltd (TCT), a manufacturers of secure and non-secure plastic cards, has won a tender to be the supplier for the production, personalisation and distribution of one million EMV chip payment cards for Ghana Commercial Bank (GCB Ltd.). Thames will also offer its portfolio of consultancy services to support GCB Ltd. in its
MTN Mobile Money users, who are also Ecobank customers in 12 African countries, will soon be able to withdraw cash from Ecobank ATMs. They will also be able to transfer money between their Mobile Money and Ecobank accounts. The service was piloted in Ghana last month, and will soon be launched in Benin, Cameroon, Ivory
European investment company Accel Partners has invested US$40 million in WorldRemit, an online money remittance service operating in Ghana and Somalia, providing the service’s first Series A investment. Founded in 2009, WorldRemit has partnerships with Safaricom’s M-Pesa, international banks and mobile operators, providing remittance transaction services to approximately 1.3 million people every year “We expect
With the approval of the Bank of Ghana, Fidelity Bank has contracted third party retail networks called Fidelity Smart Agents to provide services on its behalf. Fidelity Smart Agents are your local neighborhood convenience shops, pharmacies, supermarkets and utility payment vendors. Commenting on this revolutionary initiative, the Managing Director of Fidelity Bank, Mr. Edward Effah,
Ghana’s leading telecommunications provider, Mobile Telecommunications Network (MTN) and Ecobank, The Pan African Bank, have partnered to extend cardless ATM services to Ecobank ATMs across Ghana. With this partnership, the more than two million MTN Mobile Money subscribers can now enjoy the convenience and ease of withdrawing money instantly from Ecobank ATMs anytime and from
Guaranty Trust Bank Ghana has introduced a function on its Internet banking platform to enable customers to transfer money online to their account(s) or other beneficiaries’ accounts in other banks in the country. The Third Party Transfer service is the first fully-automated online transfer service in Ghana, which allows GTBank customers who are profiled on
The government of Ghana has revealed more citizens are using the electronic e-pay slip system recently introduced by the nation’s Controller and Accountant Generals’ Department for public sector workers, which offers mechanised payroll services. A statement released by the Information Service Department (ISD) of Ghana’s Ministry of Information said the number of registered users has
