Vice President Dr Mahamudu Bawumia has noted that the introduction of mobile money interoperability has led to over fifteen (15) million Ghanaians owning bank accounts.
The Vice President was speaking at a forum organized by the NPP Youth Wing to mark the International Youth Day.
According to him, the system, which makes the transfer of funds from mobile money accounts to bank accounts has allowed Ghanaians to do banking from the comfort of their homes while enjoying all the benefits of branch banking.
Since its introduction in May 2018, the MMI has not only made banking easier but has also made it easy for users of different mobile networks to transfer money across to each other.
Dr Bawumia said the digitization agenda of the Akufo-Addo administration has made it possible for anyone with a mobile account to have a bank account, explaining that “they can make payments out of it and receive interest on their balances.”
“Many people, did not and still do not quite understand what I meant when I said every eligible Ghanaian will be able to get a bank account.
“They were thinking about traditional bank accounts. Well I can say without any fear of contradiction that as a result of mobile money interoperability over 15 million Ghanaians today (many of whom are unbanked in the traditional sense) have a bank account. This is a remarkable achievement and shows the power of digitization,” the Vice President indicated.