Vodafone Brings Mobile Money to 15M People Without Bank Acccounts in Ghana

Tuesday, December 8, 2015

Vodafone has launched its mobile money scheme M-Pesa in Ghana, bringing a cash transfer service to the 15m people in the country who do not have a bank account.

The service, which will operate under the brand ‘Vodafone Cash’ in Ghana, offers people an efficient way to transfer money securely in a country where approximately 64pc of the population does not have a bank account.

Vodafone has had success with mobile payments services in developing countries such as Kenya, Tanzania and India, where many customers use the scheme as a secure alternative to cash.

Ghana is the 11th country to receive the M-Pesa service after Kenya, Tanzania, South Africa, Democratic Republic of Congo, India, Mozambique, Egypt, Lesotho, Albania and Romania.

M-Pesa saw more than 2 billion individual transactions carried out in the six months to September 2015 and its worldwide usage has increased 27pc year-on-year to reach 23.4m active customers, according to Vodafone.

Source: The Telegraph (link opens in a new window)

financial inclusion