Ghana initially lagged behind other African countries when it came to mobile money adoption, but fast forward to 2020, and Ghana is now the fastest growing mobile money market in Africa. How did the country pull this off?
In this episode, we go deep into the origins of mobile money in Ghana, its early challenges, and how numerous organizations successfully came together to take this technology mainstream.
Among the many guests who help break it down for us are Archie Hesse, CEO of Ghana Interbank Payment and Settlement Systems (GhIPSS), and Bruno Akpaka, the first General Manager of MTN Mobile Money in Ghana.
Listen to learn how Ghana became one of the fastest growing mobile money markets in Africa.
IN THIS EPISODE, WE TALK ABOUT0:00 — Introduction
02:00 — Mobile Money 101 - A timeline of Ghana's journey
03:37 — Enter GhIPSS - controller of the spaghetti junction
06:44 — The Bank of Ghana and GhIPSS' first attempts at improving financial inclusion
11:24 — The rise and fall of bank-led branchless banking
13:30 — The rise of MTN Mobile Money
19:01 — [Paystack Product Alert] Introducing Paystack Transfers paystack.com
20:03 — The early days of MTN Mobile Money in Ghana
23:42 — The first iteration of mobile money in Ghana
25:42 — Improving financial inclusion through mobile money interoperability and agent distribution
29:06 — The role of mobile money in Ghana's financial system
LINKSThe Decode Fintech newsletter is a weekly email summary of the most important news in African fintech. Subscribe to receive original commentary and curated stories, as well as the latest episode of the podcast.
Paystack helps Africa's most successful fintechs build and scale popular financial service products with the industry's best-documented APIs. Please visit paystack.com/fintech to find out more.
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