Accessible banking for Ghanaians through Zap mobile phone service

Mar 18, 2010

Zain Ghana has extended its award-winning Zap mobile commerce product to change the way businesses undertake money transactions, stimulating economic activities in the country.

The Zap service on mobile phones is connected to Ecobank, United Bank for Africa and Standard Charted Bank and is packaged as a convenient and secure way to send and receive money. Approximately 80 per cent of Ghanaians do not have a bank account and often have to travel to remote areas to give money to creditors and family members.

It is hoped Zap will overcome the challenge of traditional financial services being unavailable to the majority, while security concerns are expected to be allayed because the product is password-protected and integrates a state-of-the-art security application.

Philip Sowah, Country Manager of Zain Ghana, said the company's goal was to "create an eco-system where Zap enriches lives by providing customers with increased security and flexibility, reducing the need to carry cash. The positive economic and social effects on the community we serve will be abundant".

In January, Zain Ghana announced it had joined with telecom supplier Ericsson to help lift 30,000 people from the remote Bonsaaso Millennium Village Cluster out of poverty by providing mobile telecom services to improve quality of life.