May 25, 2022

NPP Chair appeals to BoG to revoke license of ‘MoMo’ operating telcos

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Chairman for the New Juaben North Constituency of the New Patriotic Party (NPP), Kwadwo Boateng-Agyemang, has appealed to the Bank of Ghana to revoke the license of telcos operating mobile money (MoMo).

According to Chairman Kwadwo Boateng-Agyemang, these telcos do not have the mandate to operate financial services per their rules of establishment as service providers.

Speaking in an interview, the New Juaben North Constituency Chairman of the governing New Patriotic Party (NPP), said its high-time the Governor of the central bank, Dr. Ernest Addison, was petitioned in connection with the MoMo operations of the telcos.

He called on the BoG to streamline the activities of the telcos in the financial sector.

“I wonder what the leadership of the Ghana Association of Bankers are doing in the face of this unwarranted competition from the telcos. Because of the MoMo services, some of the telcos have refused to print call cards for the customers, deliberately pushing all their customers to make use of the MoMo platform. It is wrong for the Bank of Ghana to have allowed the telcos to dabble in the financial sector of the economy,” he told Kaakyire Ofori Ayim.

He maintained that the telcos are to provide communication services for their clients and and not financial services in the country.

He urged the telcos to continue with its communication services.

The telecommunication networks are yet to respond to the appeal by the Chairman for the New Juaben North Constituency of the New Patriotic Party (NPP), Kwadwo Boateng-Agyemang.

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