Mobile Telephone Network Ghana (MTN Ghana), has said the removal of charges on mobile money cash transfers below Ghs 100 at the height of the Covid-19 pandemic outbreak last year, saved its customers over Ghs 94 million.
MTN Ghana made this known in its financial statement for the year 2020.
According to the company, the move brought financial relief to its customers.
“From March 2020, we zero-rated all Mobile Money P2P (person-to-person) transfers up to a value of Ghs 100 per day. We are now pleased to announce that the removal of charges for this category of transactions saved our customers over Ghs 94 million in fees,” the report stated.
The Bank of Ghana (BoG) at the height of the pandemic last year, introduced a number of regulatory reliefs to help businesses and individuals deal with the adverse impacts of the pandemic.
The Central Bank among giving moratoria on loans repayment by businesses and cutting its policy rate by 150 basis points (1.5 per cent) also instructed that charges on mobile money cash transfers below Ghs 100 be temporarily scrapped.
Meanwhile, MTN Ghana has said it recorded a profit of Ghs 1.3 billion for the year 2020.
The recorded profit represents a 38.4% year-on-year growth when compared to the profit recorded for 2019.
Per the company’s 2020 Financial Statement, total revenue was Ghs 6 billion, a 16.4% increase over that of 2019.
