Accra Aug. 19,
GNA – The National Union of Ghana Students (NUGS) has held a National Debate
2016, to provide a platform for intellectual discourse on promotion of
financial inclusion in the country.
sponsored by MTN Ghana was on the topic: “Mobile Money plays a critical role in
promoting financial inclusion.”
Team A, who spoke
for the motion, said mobile money has created financial inclusion by delivering
financial services at affordable cost to a disadvantage segment of the society.
According to the
Team, reports by Financial Access in 2009 points to the fact that about 50 per
cent of the world adult’s population do not save in the bank because of the
exorbitant profits in the banking sector, however mobile money has been able to
reach people at an affordable cost.
They noted that
the remittance cost of transfer of money across the world is at a very high
rate but mobile gives low remittance cost charges.
The team said the
security of mobile money transaction is trustworthy to safeguard the user’s
money, adding that it also has potential to contribute to the economic growth
of the country.
Team B, also
observed that mobile money has failed to address inconvenient network services,
credit, saving with interest, insurance, investment, borrowing, fraud and
After an hour of
heated jaw-jaw session Team A, according to the cumulative results of the
Judges were declared as winners.
Mr Eli Hini,
General Manager Mobile Financial Services MTN, congratulated NUGS on the
celebration of its 50th anniversary being a formidable student body with its
achievements over the years.
He said MTN was
privileged to partner NUGS to provide the platform for this topical issue to be
He said the
issues appeared not to have had as much focus within the student body as it has
had amongst the general public.
“The subject of
financial inclusion is an important for our country, given its impact on
national economic and social development,” he added.
He said financial
inclusion is an important subject for leaders of the country, and its linkages
with poverty reduction, economic growth and employment and overall welfare
improvement are well established.
“We each have a
role to play in promoting financial inclusion – providers, citizens and
regulators indeed all stakeholders must play their part,” he said.
regulators must create an enabling regulatory environment, providers must offer
effective, appropriate, affordable, secure and reliable services and users must
act responsibly in the use of services.
Mr Hini observed
that mobile money is the facilitation of multi integration and the
consolidation of services on the platform with ease.
students to conduct more research into how Mobile Money is breaking the
frontiers of financial transactions and the prospects it has for Ghana’s