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MTN Ghana Paying Interest on Mobile Money

MTN Ghana is paying interest on mobile money wallet as a way of encouraging users to keep the money there and stay electronic in their transactions.

MTN Ghana has commenced payment of 17.1 million cedis to 10,630, 175 customers as interest earned for the first quarter of 2019. The payments commenced on Sunday [April 28, 2019]. A statement from MTN to Citi Business News said the 2019 first quarter payments brings to over 156.2 million cedis in interest paid to Mobile Money customers from inception of interest payment in 2016 to March 2019.

MTN’s payment, however, comes a week after the scheduled date of interest payments announced by the Bank of Ghana.