­Millicom Ghana, operators of Tigo Cellular Network has launched a mobile money service that will enable Tigo subscribers to send, receive, top up airtime, pay bills, as well as make purchases, using their mobile phones. Banks partnering for this services includes the Agriculture Development Bank (ADB), the United Bank for Africa (UBA), Ecobank and the Fidelity Bank.

According to Mr Kwesi Donkor, Commercial Manager of Tigo, the introduction of the Tigo Cash service was necessitated by the fact that, about eight, out of ten persons, did not have access to bank account in the country, especially those in the rural areas.

As per Mr Percy Gondi, Head of Innovation, Tigo, the introduction of the product was a milestone for Tigo, as it blended banking with technology and also deepens financial access to more customers.

Mr Franklin Donye, representative of the Bank of Ghana, appealed to all the cellular networks in the country, which were involved in mobile money, to educate their customers on the service, in order to avoid fraud. According to him, the bank would come out with rules and regulations concerning the mobile money transfer for telecommunication companies in the country.