The Vice President, Dr. Mahamudu Bawumia, today Tuesday 10th March 2020 the speaker at the maiden edition of the Mobile Technology for Development (MT4D) Conference in Accra under the theme ‘Leveraging mobile technology to drive Financial Inclusion’.
He noted that Ghana is now the fastest-growing mobile market in Africa. Ghana is also the only country in Africa that has achieved mobile money interoperability between bank accounts and mobile wallets. This has made it possible for all 16 million mobile wallet holders to operate their mobile money accounts like bank accounts. In doing so, Ghana has largely solved the problem of financial inclusion by giving over 90% of bankable adults practical use of a bank account.
He additionally informed the conference that on March 25th the Bank of Ghana through GHIPSS will launch a universal QR Code that will allow payments to merchants (from waakye sellers to the big players) through mobile phones with no need for point of sale devices. Again, Ghana will be the first country in Africa to launch a universal QR CODE and this will accelerate the pace of making Ghana a cash lite society in the near future.