mobile money transaction first half 2016

The Chief Executive of the Ghana Chamber of Telecommunications, Mr Kwaku Sakyi-Addo said on Thursday, November 17, 2016 that the country’s mobile money transaction for the first half of 2016 has reached GH¢30 billion with over 80,000 people making a living as agents.

According to him the value for the country’s annual transaction which was GH¢400,000 per annum shot up to GH¢35 billion in 2015.

Mr Sakyi-Addo announced this at a ‘Thought Leadership Forum’ in Accra as part of the Chambers five years anniversary celebration.

The forum seeks to effectively and efficiently engage policy makers, law-makers, regulators and other stakeholders on its five years existence and prospects for the next five years.

However, the CEO noted that, the telecoms industry had been hit by high energy tariffs, which was currently taking up over 60 per cent of operating cost and they could not ration their services.

Mr Sakyi-Addo said operators had invested in 3G technology throughout districts capitals but many in those places had their monthly revenue as “a tiny fraction of the running cost.”

“Throughout the five years, inflation in communication services had been the lowest in the non -food category. Whereas the cost of our inputs rose, the structure of the market and the nature of competition held us back from sharing out those cost,” he added.

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