Business
Ghana initially lagged behind other African countries when it came to mobile money adoption, but fast forward to 2020, and Ghana is now the fastest growing mobile money market in Africa. How did the country pull this off?In this episode, we go deep into the origins of mobile money in Ghana, its early challenges, and how numerous organizations successfully came together to take this technology mainstream.Among the many guests who help break it down for us are Archie Hesse, CEO of Ghana Interbank Payment and Settlement Systems (GhIPSS), and Bruno Akpaka, the first General Manager of MTN Mobile Money in Ghana.Listen to learn how Ghana became one of the fastest growing mobile money markets in Africa.IN THIS EPISODE, WE TALK ABOUT0:00 — Introduction02:00 — Mobile Money 101 - A timeline of Ghana's journey03:37 — Enter GhIPSS - controller of the spaghetti junction06:44 — The Bank of Ghana and GhIPSS' first attempts at improving financial inclusion11:24 — The rise and fall of bank-led branchless banking13:30 — The rise of MTN Mobile Money19:01 — [Paystack Product Alert] Introducing Paystack Transfers paystack.com20:03 — The early days of MTN Mobile Money in Ghana23:42 — The first iteration of mobile money in Ghana25:42 — Improving financial inclusion through mobile money interoperability and agent distribution29:06 — The role of mobile money in Ghana's financial systemLINKSConnect with Kwami Williams on LinkedInCheck out Kwami's companies Moringa Connect and Thrive TogetherConnect with Archie Hesse on LinkedInLearn more about GhIPSSConnect with Bruno Akpaka on LinkedInLearn more about MTN Mobile MoneyConnect with Nana Ama Yankah on LinkedInCheck Nana Ama's company NAYA by AfricaCheck out CGAP: Consultative Group to Assist the PoorLearn more about the Bank of GhanaFOLLOW USThe Decode Fintech newsletter is a weekly email summary of the most important news in African fintech. Subscribe to receive original commentary and curated stories, as well as the latest episode of the podcast.Subscribe to the Decode Fintech NewsletterFollow Decode Fintech on TwitterDECODE FINTECH IS BROUGHT TO YOU BY PAYSTACKPaystack helps Africa's most successful fintechs build and scale popular financial service products with the industry's best-documented APIs. Please visit paystack.com/fintech to find out more.