{"id":1174334,"date":"2022-08-11T13:49:07","date_gmt":"2022-08-11T13:49:07","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/08\/11\/mtn-momo-stakeholder-forum-focuses-on-impact-of-ecedi-on-digital-payments\/"},"modified":"2022-08-11T13:49:07","modified_gmt":"2022-08-11T13:49:07","slug":"mtn-momo-stakeholder-forum-focuses-on-impact-of-ecedi-on-digital-payments","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/08\/11\/mtn-momo-stakeholder-forum-focuses-on-impact-of-ecedi-on-digital-payments\/","title":{"rendered":"MTN MoMo stakeholder forum focuses on impact of eCedi on digital payments"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"393\" class=\"entry-thumb\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/08\/image-221-696x393.png\"   alt=\"\" title=\"MTN MoMo forum\"\/><\/div>\n<p>The 2022 edition of the MTN Ghana Mobile Money (MoMo) stakeholder forum has been held in Accra with the focus on Electronic Cedi (eCedi) to be launched by the Bank of Ghana.<\/p>\n<p>This, according to the Central bank, is an alternative to physical cash, to deepen financial inclusion and ensure a digitised economy.<\/p>\n<p>This comes because mobile money and other digital financial payment platforms have been accepted by the populace.<\/p>\n<figure class=\"wp-block-image size-large td-caption-align-https:\/\/www.adomonline.com\/wp-content\/uploads\/2022\/08\/image-219.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/08\/image-219-1024x683.png\" alt=\"\" class=\"wp-image-2148562\"  \/><figcaption>Ken Ashigbe, CEO Telecoms Chamber<\/figcaption><\/figure>\n<p>Stakeholders at the forum including mobile money agents shared their opinions on the yet to be rolled out eCedi.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<figure class=\"wp-block-image size-large td-caption-align-https:\/\/www.adomonline.com\/wp-content\/uploads\/2022\/08\/image-220.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/08\/image-220-1024x683.png\" alt=\"\" class=\"wp-image-2148563\"  \/><figcaption>Eli Hini<\/figcaption><\/figure>\n<p>Speaking at the event, the Chief Executive Officer of Mobile Money Limited, Eli Hini, urged Bank of Ghana to critically discuss eCedi to ensure its successful merger with already existing digital payment systems in the country.<\/p>\n<p>\u201cIt\u2019s a new area and it\u2019s important we all talk about it most importantly because we will be able to merge and take advantage of the opportunities of this form of currencies,\u201d he noted.<\/p>\n<p>He said Central Bank Digital Currencies have become an important tool all over the world due to the opportunities they offer for clearing and settlements, domestic transfer, as well as demand for efficient cross-border value transfer.<\/p>\n<p>Mr. Hini added that, with the eCedi, there will be an improvement in the speed of liquidation of money while promoting security.<\/p>\n<p>\u201cIn all these engagements there are always potential risks. We need to recognize them and ensure there are mitigations to support the implementation,\u201d he stated.<\/p>\n<figure class=\"wp-block-image size-large td-caption-align-https:\/\/www.adomonline.com\/wp-content\/uploads\/2022\/08\/image-218.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/08\/image-218-1024x683.png\" alt=\"\" class=\"wp-image-2148559\"  \/><figcaption>Clarence Blay<\/figcaption><\/figure>\n<p>But Assistant Director at the Bank of Ghana, Clarence Blay said there is no cause for alarm.<\/p>\n<p>According to him, the eCedi is not coming to take over from Mobile Money but will be improved to make digital financial payment systems better.<\/p>\n<p>The eCedi, Mr. Blay noted is expected to improve access to liquidity, enhance the efficiency of interoperability, boost payment efficiency, reduce transaction costs, promote trust in digital payments, lead to improvement in fraud management, and help scale up innovations in the digital financial sector.<\/p>\n<p>\u201cI encourage all stakeholders to give this the maximum support and commitment to promoting the development of this wonderful project,\u201d he added.<\/p>\n<figure class=\"wp-block-image size-large td-caption-align-https:\/\/www.adomonline.com\/wp-content\/uploads\/2022\/08\/image-222.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/08\/image-222-1024x683.png\" alt=\"\" class=\"wp-image-2148569\"  \/><figcaption>Martha Acquaye<\/figcaption><\/figure>\n<p>Head of Digital Banking at CalBank, Martha Acquaye whose outfit has been involved in the piloting of eCedi called for all hands on deck.<\/p>\n<p>Already, she said the bank is seeing results since it has created big convenience for customers and reduce the risk of carrying bulk cash around.<\/p>\n<p>Mrs. Acquaye urged Bank of Ghana and all stakeholders to help with education and engagement on the eCedi to ensure its accepted by all.<\/p>\n<p>\u201cAs banks, we are very well prepared to contribute our portion in this innovation to make it work,\u201d she said.<\/p>\n<p>For his part, the Chief Executive Officer of IT Consortium, Romeo Bugyei said the introduction of the eCedi is exciting news for players in fintech.<\/p>\n<p>He said players in the digital payment space should rather position themselves to take advantage of it.<\/p>\n<p>\u201cWe should not be worried about challenges but focus on the opportunities to build businesses around them. We need to plan ahead and come up with solutions,\u201d Mr. Romeo Bugyei remarked.<\/p>\n<p>The MTN MoMo stakeholder\u2019s forum was held on the theme: \u2018Assessing the Impact of the Central Bank\u2019s Digital Currency on the Future of Digital Payments\u2019.<\/p>\n<p>It is part of activities to mark the 2022 Mobile Money month which is also on the theme: \u2018Accelerating Growth in Digital Payments \u2013 The Role of Partnerships\u2019 is part of efforts to ensure digital inclusion.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"SZ6ry8Iy3sc\"><iframe loading=\"lazy\" title=\"Daud Herbal Industries (Daud Ointment) - Badwam Afisem on Adom TV (11-8-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/SZ6ry8Iy3sc?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The 2022 edition of the MTN Ghana Mobile Money (MoMo) stakeholder forum has been held in Accra with the focus on Electronic Cedi (eCedi) to be launched by the Bank of Ghana. This, according to the Central bank, is an alternative to physical cash, to deepen financial inclusion and ensure a digitised economy. This comes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1174336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[3523,6270,1322,3011,3606,2427,415,1563,12897],"class_list":["post-1174334","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-digital","tag-ecedi","tag-focuses","tag-forum","tag-impact","tag-momo","tag-mtn","tag-payments","tag-stakeholder"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1174334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1174334"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1174334\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1174334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1174334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1174334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}