Telecommunication company MTN has denied rumours it may shut down its Mobile Money (MoMo) service in Ghana.
MTN Ghana said it is incapable of shutting down mobile money service per its regulatory and contractual agreements.
“MTN MoMo is not a centralized service being operated at the MTN Group level. Customers’ funds are safely lodged with our 18 partner banks in Ghana,” a statement from the company said.
The statement comes on the back of concerns shared on social media by some Ghanaians about what clients would do in the event of a shutdown of the MoMo service due to the festering xenophobic attacks in South Africa.
With MTN being a South African company, there are fears of reprisal attacks on the company in other parts of Africa including Ghana.
MTN-Nigeria has closed down its offices due to reprisal attacks on the company.
Meanwhile, MTN Ghana has announced plans to grow its customers on the MTN Mobile Money (MoMo) platform from the current 14 million users to 20 million users by 2021.
Consequently, the telecommunications company indicated that it had already started nationwide educational campaigns and promotions to encourage more people to register on the platform.
ALSO READ: MTN targets 20m MoMo customers by 2021
Recounting the MTN Mobile Money journey during the launch of the 10th-anniversary celebrations held at the Madina Market in Accra, the General Manager for MTN Mobile Financial Services of MTN, Eli Hini said with less than 100,000 subscribers after 6 months of launch, the company’s current registered subscriber numbers have reached 14million over the 10 year period.