Airtel Ghana to start paying interest on mobile money

Airtel Ghana says it will start paying interest to customers of its mobile money service, Airtel Money, following a directive issued by the Bank of Ghana in 2015.

In a press release issued in Accra and copied to ghanabusinessnews.com, the telecoms provider said it is ready to start paying interest to customers. Airtel said it will be doing so in conjunction with partner banks, from September 11, 2016.

“The interest payment is in line with directives from the Bank of Ghana issued earlier this year for Mobile Money Operators to pay interests on customers’ E-value,” it said.

“Working with our partner banks, eligible customers will receive notification detailing interests earned on their Airtel Money wallet balances and the funds will be immediately credited to their wallets. The communication and the first payments covering January to March should reach eligible customers by September 11 and subsequent payments will follow the same procedure,” Edmund Barwuah, Head of Corporate Sales, Airtel Money was quoted as saying.

By Emmanuel K. Dogbevi