Maxwell Opoku-Afari: A decade of driving financial inclusion and socioeconomic development - the Impact of MoMo

Speech by Dr Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana, at the "Mobile Money & 10 - Stakeholder Workshop", Accra, 11 July 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
15 July 2019


1. Thank you for the invitation and it is a pleasure to join you today at this workshop which also celebrates ten years of MTN Mobile Money. The chosen theme "A Decade of Driving Financial Inclusion and Socioeconomic Development - The Impact of MoMo" is broadly aligned with the Bank of Ghana's strategy to widen the scope of mobile money transactions and in so doing promote financial inclusion in the economy. Over the past ten years, MTN has been a pacesetter in the mobile money space with the introduction of innovative financial products and services to their clients. I am sure this workshop will among others provide an opportunity for MTN to share insights on its successes within the mobile money space.

2. Ladies and Gentlemen, the Bank of Ghana has undertaken several reforms to deepen financial intermediation and promote financial inclusiveness for broad-based economic growth. More recently, the Bank has taken advantage of the rapid technological advances and widespread use of mobile money to accelerate the country's migration to electronic payments so as to expand the scope of financial services to all and sundry.