MTN Mobile Money Wins Best Wallet of the Year Award

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financial inclusion
Mobile Money

Oh MTN Ghana’s mobile money service has been adjudged the Best Mobile Money Wallet of the Year at the 6th Innovation and Excellence Awards, which formed part of this year’s Connected Banking West Africa Summit held at the plush Kempiski Hotel in Accra, Ghana.

General Manager at MTN Ghana, Sylvia Otuo-Acheampong received the award on behalf of MTN Mobile Money, at the event where a total of 27 awards were won by mainly banks and other financial technology service providers.

She had earlier pointed out that MTN mobile money is the biggest mobile finance platform in the country with over 12 million active unique wallets, out of which about 50% are on smartphones.

In Q3 2022 MTN Ghana, reported that mobile money revenue crossed GHS1.73 billion, representing 22.5 per cent of total service revenue for the period.

Meanwhile, the number of its active mobile money users grew 16.3 per cent year-on-year, while cash outs on the platform also grew 15.9 per cent year-on-year. It also recorded some 17.7% increase in advanced service offerings such as micro-loans, remittances, insurance and other general payment services on the platform.

Indeed, it is almost proverbial that mobile money in Ghana is MTN Mobile Money, without which that entire ecosystem, comprising of fintech firms, microinsurance companies, other mobile money wallets, payments firm and more, will be practically non-existent.

The Connected Banking Summit and the Innovation and Excellence Awards was organized by International Center for Strategic Alliances (ICSA) to reward financial and technology industry players for what they are doing today to shape the future of banking in Africa.

The following is a list of award winners on the night.

1. Best Bank in Wealth Management – Standard Chartered Bank

2. Best Bank for SMEs – FNB Bank

3. Best Investment Bank – Stanbic Bank Ghana

4. Best Remittance Bank – United Bank for Africa

5. Best Bank in Trade Finance – Bank of Africa

6. Best Bank in Cybersecurity- UMB

7. Emerging Digital Bank – Prudential Bank

8. Best use of tech for innovation – CBG

9. Best Digitalization and Automation Vendor – Temenos

10. Excellence in Customer Experience – First Atlantic Bank

11. CIO of the Year – Emmanuel Mokar – Access Bank

12. Best Cashless Initiative- MasterCard

13. Best Digital Transformation Provider – Accenture

14. Best Bank in Retail Banking – Absa Bank

15. Best Digital Bank – GTBank

16. Best Mobile Money Wallet – MTN MoMo

17. Best Digital Banking Personality – Abdoul Aziz Faye, Ecobank Group CIO

18. Best Bank – ECOBANK Ghana

19. Excellence in Banking Innovation – Republic Bank

20. Best Tech Solution Provider – Huawei

21. Best Chief Info Security Officer – Roland Martey, GCB Bank

22. Best CTO – Kwesi Acheampong – Fidelity

23. Digital Disrupter of the Year

24. Best CEO – John Kofi Adomako – GCB Banak

25. Best Fintech Policy – Bank of Ghana (Regulatory and Innovation Sandbox)

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