The Chief Executive Officer of BEIGE Capital, Mike Nyinaku, has asserted that the Mobile Money service poses no threat to the future of the banking sector in Ghana. Though the surge in Mobile Money usage has caught the attention of many Ghanaians, some bankers are apprehensive about the position of the Mobile Money service, as against the future of the banking sector. A report carried out in the B&FT in one of its May 2016 edition paints a glowing picture of the growth of Mobile Money service in Ghana. The threat, on the part of the banks, was also because of the potential for telcos and other mobile money operators to enter into the banking space. This, he said, confirms the growing acceptance of mobile money across the country.

Source: All Ghana News August 30, 2016 16:30 UTC