Tafo-Pankrono: Five MOMO Fraudsters Busted

Five suspected fraudsters have been busted by the Tafo-Pankrono Police Divisional Command in the Ashanti region for duping people into various sums of money. They were arrested at their operational hideout in a hotel at Atimatim in the Afigya Kwabre South district in the Ashanti region upon a tip off on Tuesday, October 22, 2019. […]

Bank of Ghana Increases Minimum Capital for Mobile Money Companies by 300 Percent

The Bank of Ghana (BoG) has increased the minimum capital for Mobile Money companies by 300 percent. The requirement has been increased to GH¢20 million from the initial GH¢5 million.The BoG captured this in a press statement it released. According to the central bank, “The emergence of new payment streams, institutions such as financial technology […]

BoG releases MoMo interest payment schedule

The Bank of Ghana has released the schedule for the payment of accrued mobile money interest to customers. The 2019 quarterly accrued interest payment dates are as follows: First Quarter – Sunday, 21 April 2019 Second Quarter – Sunday 21 July 2019 Third Quarter – Sunday, 20 October 2019 Fourth Quarter – Sunday, 19 January […]