4 Reasons why we won’t run away with your cash -MTN

Since the recent xenophobic attacks by South Africans on foreigners in SA, a message has been circulating on social media indicating, MTN will shut down and mobile money users will lose their money. The message called on customers to cash out their funds before the giant telecommunication “runs” away with their cash.

The MTN Ghana has come out to indicate that, it is concerned with the message being shared through social media that clients will lose their funds. 

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MTN Ghana debunks Alarm and has stated categorically its position.

1. It has no intention what so ever to shut down its services and as a matter of fact, is incapable of doing so as per its regulatory and contractual agreements.

2. MTN MoMo is not a centralized service being operated at the MTN Group level.

3. Customers’ funds are safely lodged with our 18 partner banks in Ghana.

4. MTN MoMo has operated in Ghana for the past 10 years and the track record of its growth and commitment to the Ghanaian market is evident.

MTN further urged stated that, through the pioneering of MTN MoMo, it has contributed significantly to driving the cash-like economy agenda and as such remains committed to the over 100,000 Ghanaians it indirectly employs through an ecosystem of merchants and agents.

It also indicated that as the first mobile money service provider in Ghana and the first to be certified and given ISO/IEC 27001:2013 it has no intentions to exit Ghana. This it has demonstrated by listing on the Ghana Stock Exchange as a public Company in 2018.