Business News of Monday, 13 March 2017
Accra, March 13, GNA – The Africa Business Media Limited, publishers of the Ghana Business and Finance Magazine, has launched the fifth edition of its Ghana Economics Outlook and Business conference in Accra as a platform to address mobile money issues.
This year’s event, to be held on March 22, is on the theme: “Unlocking Ghana’s Economic Potential with Mobile Money and Payment System.”
The conference seeks to create a platform where key government officials, bankers, telecommunication companies and policy makers would address Ghana’s mobile money issues for financial inclusion of the rural communities for economic growth.
It is also to discuss the role of stakeholders in solving the challenges faced between the regulator and aggregators and to identify and agree on ways and means of deepening Ghana’s financial inclusion agenda.
Mr Kwadwo Ohemeng Asumaning, the Chairman of Africa Business Media Limited (ABM), said the conference was also to create a forum where the experiences of Kenya, Nigeria, South Africa among other countries would be shared to avoid future pitfalls.
He said it would help explore and exploit ideas and suggestions from both the Government and private sector stakeholders to address Ghana’s mobile money, financial inclusion and electronic payment system in efforts to promote and sustain the growth of the Ghanaian financial system.
“It is also to identify and agree on the ways and means of deepening Ghana’s financial inclusive agenda,” he said.
The Vice-President, Dr Mahamudu Bawumia, is expected to open the conference with individual presentation, panel discussions and networking opportunities to follow.
The Vice-President would be speaking on how mobile money and payment systems would contribute to financial inclusion and economic growth.
Mr Stephen Essien, the Chief Business Officer of Tigo, said a 2016 report from the Bank of Ghana indicated that total value and volume of mobile money transactions had outstripped all other non-cash transactions except cheque.
He said in the same year, the mobile money balance on float increased to GH¢ 680 million from GH¢548 million in the previous year.
Mr Essien said the coming together of various players in the banking and mobile financial service industry to address the issues at stake and review synergies was a welcomed move.
“It is a win-win for all,” he added.
Mr Martin Luther-King, the General Manager of ABM, said: “We thought we should provide the right platform to our domestic business environment to give the subject the needed attention it deserves.”
He said it was to ensure that Ghana was not left behind in the ongoing move to global cashless transactions.