The Government has rolled out its Mobile Money Payment Interoperability to allow the transfer of funds from mobile money accounts to bank accounts and vice versa, as well as from mobile or bank accounts to biometirc payment card accounts (ezwich).
The initiative has led to about 15 million Ghanaians essentially having bank accounts, Vice President Dr. Mahamudu Bawumia disclosed on Wednesday, August 12, 2020 while addressing the youth wing of the governing New Patriotic Party in Accra.
“Many people did not and do not understand that we have moved away from the world of branch banking into branchless banking. You can have your bank account on your phone. You can do banking without visiting a bank branch or signing a cheque”, he expounded.
Speaking in an interview with host Kwami Sefa Kayi on Peace FM’s ”Kokrokoo” on Tuesday, August 25, 2020, he stated categorically that Ghana is the first and only country in Africa to achieve mobile money interoperability.
The Vice President added that the country is also the fastest growing mobile money market in Africa.