Over the past five years, mobile money payments have grown steadily. In 2017, the value of mobile money services hit GHC 155.84bn and this is to show how valuable the service is.
It is also important to note that the value of retail payments excluding cash, according to the Bank of Ghana in 2017 was 281.43bn. This represents an increase of GHC 43.18% as compared to the previous year which recorded GHC 266.39bn. According to the Central Bank, this increase could be attributed to the increase in the value of Mobile Money services.
Taking all these into consideration, a report by Citifm, an Accra based radio station states that SMEs remain doubtful about mobile money services.
Even though some are happy about the service, others complain about the charges. Maybe, this should be a wake-up call to all stakeholders to ensure that the service is improved.
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