Industry News Page | Telecoms Chamber

BoG revises balance, transaction limits of mobile money wallets upwards, starting March 1

The Bank of Ghana (BoG) has revised the balance and transaction limits of customers' mobile money wallets upward, effective March 1, 2024.

A statement from the Ghana Chamber of Telecommunications pointed out that the development is in line with increasing trends of transactional activities and evolving customer needs.

On daily transaction limits, customers with a minimum account which initially had a limit of GH¢2,000 has been upgraded to GH¢3,000, while medium account with a current limit of GH¢10,000 has been increased to GH¢15,000.

In the same line, an enhanced account with a GH¢15,000 threshold has been reviewed to GH¢25,000 daily.

On maximum accounts, a minimum account which initially had a limit of GH¢3,000 has been reviewed to GH¢5,000, while medium accounts with a current limit of GH¢25,000 has been increased to GH¢40,000.


The enhanced accounts with a GH¢50,000 threshold has been reviewed upwards to GH¢75,000.

On the breakdown of the review of monthly transactions limits, minimum account which initially had a limit of GH¢6,000 has been reviewed to GH¢10,000.

The medium account which had no limits on the value of monthly transactions, remains unchanged, as well as the enhanced account which had no limits on the value of monthly transactions, remains unchanged.

"Kindly reach out to the personnel of our members at any of their customer service centers across
the country, for any clarification you may need", the statement concluded.


Source: Joy Business

Otumfuo urges Telecel to safeguard the jobs of Ghanaians

In a significant meeting that could shape the future of telecommunications in Ghana, Otumfuo Osei Tutu II, the Asante King, made a powerful appeal for the safeguarding of Ghanaian jobs. This plea was directed at the leadership of Telecel Group during their recent acquisition of a 70% stake in Vodafone Ghana. The discourse, held at the historic Manhyia Palace in Kumasi on February 21, 2024, transcended mere business transactions, touching on the very essence of national pride and the wellbeing of Ghanaian workers.


Championing Local Talent and Training
With the regal gravitas that only someone of his stature can command, Otumfuo Osei Tutu II laid out his vision for the future of Vodafone Ghana under its new ownership. Central to his address was the unequivocal call for job protection for Ghanaian employees amidst the corporate transition. But the King's foresight went beyond just job security. He advocated for the promotion of qualified Ghanaians to leadership positions within the company and emphasized the importance of providing in-service training. This dual approach, he argued, would not only ensure the retention of valuable local talent but also bolster the company's growth and competitiveness in the digital age.

Ensuring a Seamless Transition

The transition of control from Vodafone to Telecel Group marks a pivotal moment for the telecommunications industry in Ghana. Otumfuo's dialogue with Mrs. Patricia Obo-Nai, CEO of Vodafone Ghana, and other key executives was not just a formality but a strategic move to ensure that the takeover reflects a commitment to the prosperity of Ghanaian employees and the broader community. The King's message was clear: the success of the acquisition will be measured not just in financial terms but in its ability to uphold the dignity and livelihoods of its Ghanaian workforce.

Looking Ahead: The Path to Digitalization
As the meeting concluded, the Asante King's thoughts turned towards the future, specifically the role of digitalization in driving the company's, and by extension, the country's progress. Otumfuo's call for digitalization to take "center stage" under the new management underscores his recognition of the transformative power of technology. It's a vision that aligns with global trends, yet firmly rooted in the needs and aspirations of the Ghanaian people.

The meeting at the Manhyia Palace was not just about the stakes of a company but was emblematic of the broader challenges and opportunities that come with globalization and technological advancement. Otumfuo Osei Tutu II's engagement with Telecel Group is a testament to his dedication to the welfare of his people and his acumen in navigating the complexities of modern governance. As Ghana stands on the cusp of a new era in telecommunications, the King's advocacy offers a blueprint for how traditional leadership can intersect with global business to chart a course towards a prosperous and inclusive future.

Source:Ebenezer Mensah (bnn)

aYo Ghana launches ‘Pay and Drive” Motor Insurance Policy

Ghana’s leading mobile micro-insurance company, aYo Intermediaries Ghana Ltd, has partnered with Sanlam General Insurance Ltd and Mobile Money Limited to launch a new insurance product called aYo Pay and Drive Motor Insurance Policy.

aYo Pay and Drive is an insurance policy that enables drivers to insure their vehicles as and when they want to. With this service, drivers have the freedom to pay for insurance based on their individual needs and preferences using their mobile phones. With the pay-as-you-go approach, drivers have full control over their insurance payments, making insurance more affordable and convenient.


aYo Ghana, tap and drive The insurance policy can be purchased weekly, monthly, quarterly, or yearly offering more flexibility to meet the evolving needs of vehicle owners. The premium is calculated based on the selected number of days; a minimum of 7 days is required, usage of vehicle (Private or commercial) and value of vehicle.


Customers can register for aYo Pay and Drive at http://app.ayoghana.com/ to sign up. Alternatively, customers can WhatsApp 0596918235 for assistance.

aYo Ghana, tap and drive Speaking at the launch, Francis Gota, CEO of aYo Intermediaries Ghana Ltd, explained how the product is going to revolutionize the insurance industry through its convenience, accessibility, and flexibility.


He said, “today marks a significant milestone for us at aYo after 7 years of redefining insurance in Ghana. We are proud to bring to Ghanaians a groundbreaking auto policy called ‘Pay and Drive.’ Forged through partnerships, this product symbolizes unity and our shared commitment to deliver unparalleled value to our customers. Customers are the bedrock of our business, and their support has been both motivating and instrumental in driving our passion for innovation.”

Mabel Nana Ama Nyarkoa Porbley, CEO of Sanlam General Insurance Ltd also spoke about how the digital nature of the product will help reduce our environmental footprint. She encouraged all drivers to sign on to it.

Chief Superintendent Alexander Kweku Obeng of the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service, praised the product as a commendable initiative that will assist citizens in complying with the mandatory insurance requirements in Ghana.

Mr. Francis Gota, CEO of aYo Intermediaries Ghana Ltd speaking at the launch of aYo Pay and Drive

aYo Pay and Drive Insurance policy is crafted to meet the needs of the customers like car owners and cab drivers who cannot purchase yearly insurance cover. Valid Pay & Drive claims are paid directly to the claimant’s mobile money wallet or preferred payment platform.

aYo is committed to revolutionizing the insurance landscape in Ghana. Over the past seven years, aYo has raked in over 8.2 million individual policyholders. The company boasts of a subscriber base of over 10 million Ghanaians. So far, the company has paid out over GH¢18 million claims to over 45,000 policyholders and beneficiaries, out of which GH¢4.5 million was paid out last year.


Some of the dignitaries and stakeholders who graced the occasion included Benjamin Peh, Business Development Manager of the Driver and Vehicle Licensing Authority (DVLA), Nana Yaa Ago Winful, Head of Marketing – Ghinger APP Ghana, Nana Kwesi Gyan Apenteng, former Chairman of the National Media Commission, some members of the Mobile Money Advocacy Group (MOMAG) and staff of aYo, Sanlam and MTN Ghana.

MTN completes Widescale Network deployment for GCB Bank

MTN Ghana has successfully completed its Wide Area Network (WAN) connectivity deployment for GCB Bank Plc. The project, managed by MTN Ghana Capital Projects Group, marks a significant milestone in enhancing GCB Bank’s digital infrastructure and elevating its commitment to serving customers with up-to-date technologies.