Chief Executive Officer of the Ghana Chamber of Telecommunications, Sylvia Owusu-Ankomah, has called for a coordinated, system-wide approach to digital financial services to ensure Ghana maintains its position as a leader in mobile money.
Speaking at the maiden Mobile Money Agents Association of Ghana (MoMAG)/Telecel Capacity Building Forum, she said the continued growth of the sector must be anchored on trust, security, reliable infrastructure and meaningful financial inclusion.
According to her, Ghana’s success in mobile money goes beyond technology, applications and digital wallets. She identified trust as the foundation of the ecosystem, with mobile money agents playing a critical role as the human face of financial services in communities.
Owusu-Ankomah noted that Ghana’s mobile money sector processed about 9.7 billion transactions worth more than GH¢4.5 trillion in 2025, with approximately 26.6 million active customer accounts and 491,000 active agents by the end of the year.
She said the figures demonstrate that mobile money has evolved from a simple money-transfer service into an important component of Ghana’s economic and financial infrastructure.
Ghana also retained the top position globally in the GSMA’s 2025 Mobile Money Regulatory Index, which she attributed to the country’s regulatory framework, technological innovation and collaboration within the industry. However, she cautioned that the achievement could not be taken for granted.
The CEO stressed that the next stage of digital finance should focus not only on expanding access but also on creating tangible economic opportunities. She said true financial inclusion should enable traders to access affordable credit, farmers to insure their produce, informal-sector workers to build pensions and small businesses to accept digital payments, maintain records and establish credit profiles.
She further called for mobile money services to expand into areas such as savings, insurance, pensions, responsible credit, investment, government services and enterprise development.
On the role of agents, Owusu-Ankomah said they should gradually transition from traditional cash-in and cash-out services into trusted community-based financial-service centres. With appropriate training and support, she said agents could provide services including merchant payments, insurance, pensions, savings and government payments.
She also raised concerns about the increasing sophistication of fraud within the digital-finance sector. Citing the Bank of Ghana’s 2025 Fraud Report, she said fraud cases involving payment service providers increased from 15,673 in 2024 to 24,124 in 2025, while the value at risk rose from about GH¢19 million to GH¢37 million.
She therefore called for stronger cooperation among banks, fintech companies, telecommunications operators, electronic money issuers and relevant state institutions to improve fraud detection, information sharing, reporting and recovery efforts.
Owusu-Ankomah disclosed that members of the Digital Chamber were interested in discussions around establishing a National Federated Centralized Fraud Control Centre, while stressing that the initiative should protect customer privacy and avoid indiscriminate centralisation of personal data.
She also urged stakeholders to strengthen telecommunications infrastructure, arguing that the reliability of digital financial services depends heavily on networks, fibre connections, data centres, electricity supply and payment infrastructure.
The CEO further advocated for improved rural connectivity, better protection of telecom infrastructure and stronger measures against vandalism and destruction of communications facilities.
On interoperability, she said Ghana must move beyond enabling transfers between different wallets and bank accounts and develop a more connected digital economy where businesses of all sizes can accept payments across platforms.
She also called for reliable settlement systems, transparent pricing, secure APIs, consent-based data sharing and efficient cross-border payments, noting that the African Continental Free Trade Area presents an opportunity for Ghana to become a hub for digital trade and financial innovation.
Owusu-Ankomah also urged regulators to adopt policies that protect consumers and financial stability while allowing responsible innovation. She advocated for regulation that is risk-based, proportionate, predictable and technologically neutral, with meaningful consultation involving industry stakeholders.
She warned that the cost of accessing digital financial services must also be addressed, saying taxes, regulatory fees, platform charges, interoperability costs and transaction fees could create a new form of financial exclusion.
She encouraged the responsible use of artificial intelligence and digital credit, stressing the need for transparent pricing, strong data protection, responsible lending and effective mechanisms for customer redress.
The CEO urged MoMAG to play a leading role in shaping the sector while maintaining professional standards, proper record-keeping, regulatory compliance, customer protection and continuous learning.
She encouraged mobile money agents to see themselves not merely as transaction processors but as “custodians of trust and a gateway to economic opportunity.”
She commended Telecel Ghana for partnering with MoMAG to organise the capacity-building forum and expressed hope that similar initiatives would become regular features of the industry to promote professionalism, better service delivery and sustainable growth.
Source: GCT News Desk
