MTN CEO Predicts Cashless Economy

Michael Ikpoki, MTN CEO

By Esther Awuah

An economy in which mobile phone subscribers will use their handsets to transact business is imminent, according to Michael Ikpoki, the Chief Executive Officer (CEO) of MTN Ghana.

Since MTN Mobile Money service was launched in July 2009, about 2 million people have enjoyed the convenience of transacting business without cash, a development the CEO described as the next big thing that will gradually take Ghana towards a cashless economy.

He said, “It has been three years now since MTN Mobile Money was launched and we are quite impressed with the level of interest people have shown in the service. However we believe we can do better at getting more people to use the services and this calls for an intensive consumer education aimed at drawing attention to the importance of Mobile Money service.”

Mr. Ikpoki disclosed this to CITY & BUSINESS GUIDE in an interview at the launch of first ever MTN Mobile Money Month in Accra.

He indicated that MTN will hold engagements with stakeholders and policy makers to drive the right interventions to ensure a cashless economy.

“MTN is committed to supporting the economic development of the country and we believe that the country will benefit immensely if we work towards making Ghana a cashless society.”

The theme for the month-long celebration is “MTN Mobile Money creating a cashless economy with your mobile phone.”

According to the CEO, the launch of the Mobile Money Month is to enable more people know about the importance of the service.

He was confident that “at the end of the month of August more customers would have been hooked on to the service and educated about the many benefits Mobile Money offers and certainly transactions on this platform would see some significant improvements.”

Some activities lined up for the event include a float through some major cities across the country, a public forum and other engagements with MTN subscribers and staff.