Betway Advocates Stronger MoMo Services Regulation

Dr. Ainuson explaining a point

leading online sports betting company, has called for stringent regulations in
Ghana’s mobile money industry, especially in the sports betting industry, to
check the perpetration of certain unlawful practices.

According to the
company, a well-regulated mobile money sector would enhance the rapid growth of
e-Commerce in Ghana and boost the confidence of key players in the sector.

Dr. Kweku Ainuson,
director and company secretary of Betway Ghana, disclosed this when he joined
other panelists at the Mobex Africa Tech Expo to discuss mobile money and its
regulations in Ghana’s e-Commerce industry.

Dr. Ainuson mentioned
measures being put in place by his outfit to monitor and supervise the betting
landscape against vices such as money laundering and underage betting.

He said, “We have
adopted a zero tolerance to money laundering or any financial crime. A
compliance officer has been appointed and we are offering extensive training to
staff on the company’s view, spotting and reporting of such activities.”

Dr. Ainuson
further touched on sanctions and measures that were in place to help monitor
and minimise any such activities.

He said through
such measures, relationships with players who were suspected of money
laundering or any financial crime would be terminated.

“Such suspicions
will be investigated thoroughly and actions taken accordingly. Guilty parties
would be reported to the appropriate law enforcement organisations” he said.

The platform
provided a stage for creating opportunities for local technology innovators and

This year’s Mobex
Africa Tech Expo was held at the Kempinski Hotel in Accra under the theme
“E-Finance; Future of Payments and Banking.”

A business desk report