Communications, Digital Technology, and Innovations Minister, Sam George has explained that the Bank of Ghana has not issued a license for the cross-border payments between MTN Ghana and Nigeria.
There were reports that MTN Ghana and MTN Nigeria were introducing cross-border payments.
The information was met with mixed reactions, especially from industry folks who were of the view that it may have an effect on Ghana’s fintech ecosystem.
But responding to the concerns raised, Sam George indicated that the government will work with all stakeholders to ensure a favourable ecosystem that protects investments, supports innovation and offers the best products to our citizens.
Making his point known in a post shared via social media, he said “I have received several frantic calls from players in Ghana’s fintech ecosystem deeply worried about a statement circulating today that MTN Ghana and MTN Nigeria have commenced cross border payments.
Despite our commitment to a seamless and inclusive financial ecosystem, there are regulations for the industry. My checks with the Bank of Ghana indicate that no such licence has been issued for cross border payments.
We would work with all stakeholders as the Ministry for Digital Technology to ensure a favourable ecosystem that protects investments, supports innovation and offers the best products to our citizens.
For God and Country”.
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