NO COMPETITION WITH TRADITIONAL BANKS

The managing director for the northern sector of MTN, a mobile telecommunication network in Ghana James Bukari Basintala says, mobile money transaction is a complementary banking role to the traditional banks.

Mr Basintala who was speaking at editors forum at Wa said network providers do not intend to compete with traditional banks but rather compliment their efforts. He therefore advised the bank to continue liaising with MTN Ghana in the Provision of these services.

Mobile money is one of the ways of sending and receiving money instantly. Whereas the traditional banks are mainly cited in major cities, and towns mobile money transcends distance and business entity ensuring accessibility to cash transfer even in the remotest area.

MTN is one of Ghana’s biggest mobile money transfer provider as it has over seventeen million subscribers and countless mobile money merchants nation wide.
At a stakeholders meeting to recount achievements in the last twenty years, the Managing Director for northern Ghana Mr Basintala said traders in the northern part of country will soon be equipped with the technicalities of transacting business using MTN mobile money.

Mr Basintala explained that the mobile money services is playing complimentary roles in the savings and banking industry. He urged the banks to continue to support the mobile money business instead of considering it as a threat.

A Senior Manager of Corporate Communications at the Corporate Services Division, Ms Georgina Asare Fiagbenu who made a presentation on the twenty years journey of MTN said the company has invested 2.5 billion US Dollars in providing quality network for Ghanaians and a substantive amount on social interventions in its twenty years of existence. She listed economic empowerment, education and health some of the key areas in which the company has invested in Ghana to better the lot of Ghanaians.

Savanna Diaries/Lydia Darlington Fordjour, Wa

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