MTN Ghana Not Licensed For Cross Border Payments- Communication Minister
The Minister for Communication and Digital Technology, Samuel Nartey George, has stated that MTN Ghana has not been granted the requisite permission and licence to operate a cross-border payment system with Nigeria.
It was reported that MTN Ghana and MTN Nigeria had launched cross-border payments on the MTN MoMo platform, allowing users in Ghana and Nigeria to send and receive money seamlessly between the two countries, directly into their local MoMo wallets.
This created concerns among players in Ghana’s fintech ecosystem who feared the move may disrupt their operations.
The Minister embraced the financial inclusivity of the initiative but underscored the relevance of going through the laid-down regulations for the industry.
“My checks with the Bank of Ghana indicate that no such licence has been issued for cross-border payments,” he noted.
He further assured all stakeholders of his commitment to protecting the investments of the fintech ecosystem.
“We would work with all stakeholders as the Ministry for Digital Technology to ensure a favourable ecosystem that protects investments, supports innovation and offers the best products to our citizens.”
Source: opemsuo.com/Hajara Fuseini
