Ghana: Bank Advocates Data Sharing for Mobile Money Growth

Sep 01, 2016

Data sharing between Telcos and Banks is vital for mobile money growth

CAL Bank has called on Telecommunication companies operating in Ghana to follow the provision of the Electronic Money Issuers (EMI) guidelines for the development mobile money sector in Ghana. Speaking at a Banking Conference on 29th August, the Head of Electronic Business of CAL Bank, Martha Acquaye encouraged Telcos to open collaboration with Banks in sharing of data to enhance the expansion of mobile money sector in Ghana. She lamented the exponential increase of mobile money transactions in Ghana which banks have no data, pattern and history of transactions by customers. Ghana's Electronic Money Issuers (EMI) guidelines emphasize the need for mutuality between Telcos and Banks to grow the sector. The Telcos are expected to complement mobile financial services by providing data to commercial banks.