According to the Ministry, the new policy is not against payments of PTA dues by parents or students, but it is to ensure that the systems of the schools are not used in the collection of such monies.

Sector Minister, Dr. Matthew Opoku Prempeh, who made the announcement at a meeting in Kumasi with Directors of Education and Heads of selected Senior High Schools (SHSs), said PTA executives must devise other ways of collecting the dues from parents rather than using heads of schools and their systems in the collection process.

[contextly_sidebar id=”D9FqzRlH1aTahHhLJJGJxKDTUn6V8WYG”]The Minister cited an incident at the Manya Krobo Senior High School where a headmaster sacked some students for failing to pay PTA levies and described such development as unacceptable.

He said, “It is not to say students should not pay or parents should not pay PTA bills. There is an old students Association of the school bill and there is no philanthropic organization. PTA is one of those organizations. They should have their meetings, open their own account, collect their own monies and come and use it to support the school that they want to support”.

He indicated that the Ministry has met with executives of the PTA at the national level, and have discussed the new policy with them.

He further said the Ministry cannot continue to countenance such practice where poor students are being sacked from the classrooms because of their inabilities to pay PTA dues.

Dr. Opoku Prempeh maintained that Government will continue to support the PTA (s) since they contribute positively to the country’s education sector.

He explained that heads of schools must not continue to act as bursars or accountants of PTAs, since they can devise their own ways including using Mobile Money transactions to collect such dues.

“Henceforth, the PTA cannot use the school system to collect that money. I am not saying they cannot collect that money, they cannot use the school system to collect that money…because headmasters are not their accountants or bursars. We the Ministers we also know Mobile Money, so the Parent Teacher Associations should also know Mobile Money to take their monies”, he added.

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By: Hafiz Tijani/citifmonline.com/Ghana

The post Allow PTAs to manage their dues – NAPO tells school heads appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to the Bank of Ghana, the development forms part of efforts to reduce the use of cash and switch to a more cashlite economy.

Citi Business News understands that this development is likely to impact competition among telcos, fintechs and other players within the digital ecosystem.

The disclosure comes on the back of the completion of the new Payment Systems and Services Bill.

It is unknown, which banks have put forward the proposals.

But the Head of the Payment Systems Department of the Bank of Ghana, Dr. Settor Amediku explains the model by the banks, to Citi Business News as;

“Banks can also have their own wallet, that is a virtual account also operating like how mobile money works but in this case, they will have their own agents who will accepts monies and digitally transfer the equivalent unto the customer’s wallet so he or she could go ahead with his or her transactions.”

He also indicated that some international organizations have expressed interest in entering the market and issue their own electronic money.

“When the bill is passed, not only banks but other international companies have also shown interest in creating their own wallets and have their own virtual accounts.”

Currently, three telcos; that is, MTN, Airtel Tigo and Vodafone are issuing their own electronic money.

For some, the coming on board of the three banks in issuing their own electronic money means intense competition for the already existing platforms.

Others have also viewed this as an opportunity to leap unto the 2020 cashless economy target by the government.

Already, official figures show that the volume of mobile money transactions has shot up massively; from 18,042,241 in 2012, the figure has reached 981,564,563 as at 2017.

Similarly, the value of mobile money transactions has shot up from 594,120,000 to 155,844,840,000 between 2012 and 2017.

Meanwhile Dr. Settor Amediku is confident the law will be passed as soon as possible to kick start all these plans.

“The government itself is highly committed to getting this Bill passed and we’ve had a lot of support from the economic management team. The members really expressed their willingness to support the bill and we currently have the Finance Minister and his deputies who have promised to do everything possible to ensure the Bill is passed within the shortest possible time,” he stated.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post Three banks to begin their own version of mobile money appeared first on Citi 97.3 FM - Relevant Radio. Always.

The company’s total revenue soared to GH₵3.4 billion in 2017, as against the GH₵2.77 billion revenue recorded in 2016.

GH₵9.3m daily revenue

The GH₵3.4 billion revenue divided by 365 days in the year translates into GH₵9.3m (GH₵9,315,068.49) daily revenue in 2017.

This strong performance affirms MTN as the most profitable telephony operator in the country.

Speaking at a media forum to present the company’s financial performance, Vice-President for Southern and East Africa and Chief Executive Officer (CEO) of MTN Ghana, Ebenezer Asante-Twum announced the company made a profit of GH₵238 million last year.

15.7 million subscriber base

MTN continued to benefit from a positive macro‐economic environment, and closed the year with a subscriber base of 15.7 million, following the internal review of subscriber definitions.

Focused value propositions and improving NPS supported the good subscriber growth.
Strong growth in revenue, up by 23.3%, was underpinned by data and digital revenue growth.

Data revenue increased by 50.6%

Data revenue increased by 50.6%, supported by the re‐pricing that was implemented in the second half of 2017.

6.5 Million active data subscribers

The business reported active data subscribers of 6.5 million.

Digital revenue up 37.7%

Digital revenue grew by 37.7% last year.

Active Mobile Money subscribers hit 7.1 million

The number of active Mobile Money (MoMo) subscribers expanded by 25.7% to 7.1 million.
In the year, Mobile Money made up 13.6% of MTN Ghana revenue.

Floating of shares to be completed in first half of 2018

MTN Ghana is also moving forward with its localisation, and the group expects this process to be completed in the first half of 2018.

Under the terms of its 4G licence, MTN Ghana is required to introduce Ghanaian investors as shareholders.

As a result, the MTN Group board has approved a Public Offer through a listing on the Ghana Stock Exchange (GSE), subject to final approval by the GSE and the Securities and Exchange Commission in Ghana.

A key objective of the listing is to target a broad base of Ghanaian investors to share in the risks and rewards of ownership of MTN Ghana.

GH₵98.9m interest paid to Mobile Money subscribers

Giving an overview of the company’s Mobile Money transaction, Asante-Twum said MTN has made GH₵98.9 million interest payments to subscribers from January 2016 to December 2017.

In 2017 alone, he said, MTN paid GH₵71 million by way of interest to subscribers.

MTN recorded 8.3 million active wallets for 90 days.

The mobile network operator said it paid an average monthly commission of GH₵19.6 million to agents.

GH₵1.2bn taxes paid in 2017

He said the company paid GH₵1.218 billion in taxes, made up of GH₵1.059 billion to the Ghana Revenue Authority (GRA) and GH₵159.4 million to the regulators, National Communications Authority (NCA) and Ghana Investment Fund for Electronic Communications (GIFEC).

GH₵3.5bn taxes paid in 5 years

This brings the total taxes MTN has paid between 2013 and 2017 to GH₵3.515 billion.
$144 million capital expenditure for 2018

Asante-Twum announced that MTN plans a $144 million capital expenditure that would go into 695km fibre rollout, 1,100 new sites to improve 3G network population coverage by 27%, 230 new sites for coverage extension and capacity under LTE rollout, 300 new sites for coverage extension and capacity for 2G network, and 200 rural sites for coverage extension, among others.

He stated that the company has expanded its network to unreached areas from 44.5 to 70% between 2016 and 2017 and is looking forward to reach 400 additional communities at the end of 2018.

The company is partnering with 16 banks, and the MTN Ghana CEO explained that the model is not to replace any of those banks, but with the aim to be the biggest payment platform in the country.

He said MTN currently has over 90,000 active agent points, and is targeting to increase the number to over 100,000 by the end of the year, to make mobile money transaction more easy and convenient for subscribers.

Commenting on the merger of Airtel and Tigo, he did not express any surprise, but rather predicted that Ghanaians should expect such mergers in the near future since the market cannot accommodate the number of telcos in the country.

He expressed optimism at the potential of the Ghanaian market, and said he expects that to continue, adding that, “This is despite very competitive environment. We have been able to hold our market share to over 50 per cent despite the fact there are about five players in the market.”

In his brief remarks, President of the Ghana Journalists Association, Roland Affail Monney commended MTN for providing jobs and scholarships to Ghanaians, as well as cutting-edge customer services.
He also thanked MTN for the strong collaboration it has built with the Ghana media over the years.

MTN declares 450 cents per share dividend

At the group level, the MTN board declared a final dividend of 450 cents per share.

This is in line with the 2017 guidance of a total dividend of 700 cents per share communicated in March 2017.
On Tuesday, April 3, 2018, the dividend will be transferred electronically to the bank accounts of certificated shareholders who make use of this facility.

In respect of those who do not use this facility, cheques dated Tuesday, April 3, 2018 will be posted on or about this date.

Shareholders who hold dematerialised shares will have their accounts held by the Central Securities Depository Participant or broker credited on Tuesday, April 3, 2018.

–

Source: The Finder Newspaper

The post MTN’s revenue jumps by 23.3%, GH₵9.3m recorded daily in 2017 appeared first on Citi 97.3 FM - Relevant Radio. Always.

Minister of Communication, Ursula Owusu-Ekuful, stated that the government also intends to monitor the billing systems of the telecom operators in a bid to sanitize the communications sector.

[contextly_sidebar id=”JuV8CoWbEsWwMTMfXYdEJbKr95qVAENy”]Speaking on the Point Blank segment on Eyewitness News on Wednesday, the Minister said that the National Communications Authority [NCA], has met with the telcos to find the best way possible to ensure that the space is sanitized.

She said these actions were necessary to ensure that consumers are not shortchanged by the telcos and that mobile money transactions across the country, which involve transfers of thousands of cedis daily, are secure.

“The NCA has met with the Chief Technology Officers and the finance officers of the Telcos to discuss this very issue and they’ve come up with a set of conditions. The NCA is also going to monitor the billing systems of these telcos,” she said.

“We will also be implementing a system to monitor the mobile money transactions as well [for] revenue assurance and security. We don’t want mobile money to be used to commit crime and we don’t want it to be used to finance terrorism or criminal activity. We need to monitor the trends and see how, who, and what it’s being used for.”

Telcos cooperating

There has been a rise in the number of mobile money fraud incidents in recent years leading to several Ghanaians being robbed of their funds.

Last year, an internal inquiry by the Criminal Investigations Department (CID) had revealed that in some of the cases employees of telecommunications companies were found to be complicit in the act.

Staff of the telcos were alleged to be accessing the database of mobile money merchants, and changing the registration details of customers in order to withdraw money from their accounts without authorisation.

Reports indicate that, the staff who collude with criminals, sometimes reset the account containing the money to a new owner in the database, giving them access to the funds.

They then acquire new SIM cards and use the pins to withdraw monies from merchants

Ursula Owusu-Ekuful stated that over the years, not much has been done to sanitize the mobile money space, leaving it exposed for criminals to take advantage of it.

She stated it it was important that the telcos cooperate with the NCA to ensure that the transactions made by their customers remain secure.

“It’s important that we have an independent eye into it, and working with the Telcos I’m sure we’d be able to do that. The telcos all understand that it needs to be done and for certainty of our financial transactions, we need to ensure that this space that we haven’t focused on, isn’t being abused by criminal elements,” she noted.

“It’s in the interest of the telcos to work with the regulator to ensure there is sanity in that space. A few people are being defrauded from that and that’s an area that we need to work on, it all falls under cyber security.”

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By: Edwin Kwakofi/citifmonline.com/Ghana

The post Mobile money transactions will be strictly monitored – Ursula appeared first on Citi 97.3 FM - Relevant Radio. Always.

The other suspect involved in the attack is however on the run.

[contextly_sidebar id=”99sZOBwFgQ4wsoKzUf4Fmc6rUlx0O8d1″]The Public Relations Officer of the Accra Regional Police Command, ASP Afia Tenge, told Citi News the two were on an unregistered motorbike when they carried out the attack.

“This [Monday] afternoon, between the hours 1.30 and 2, some two armed men on an unregistered motorbike attacked a mobile money vendor at Madina…They managed to rob the mobile money vendor but unfortunately one of them was overpowered, the other one managed to escape but the suspect we currently have in our custody was not able to escape. He was overpowered by residents in the community. The other one who is also on the run is also being searched for,” said ASP Tenge.

There have been a series of attacks on mobile money merchants in the country.

The most recent one resulted in the killing of a 31-year old operator at Kronom-Kyeraasi in the Afigya Kwabre District of the Ashanti Region.

In the wake of these attacks, mobile money merchants and businesses have been cautioned by the Police, to be wary of criminals who are targeting their businesses.

Vendors appeal for protection

Current figures show that mobile money agents increased from 136,000 in 2016 to 194,000 in 2017.

They have subsequently appealed for security following attacks on some agents.

‘We can’t protect every Mobile Money joint’

The Accra Regional Police Commander, DCOP George Alex Mensah, had earlier stated that it was impossible for his outfit to provide adequate security for every mobile money business in the capital Accra, due to what he described as the alarming rise in the number of operators.

He had stated that it will be difficult for the Police Service, with its limited numbers to protect all the mobile money points across the country.

“They spring out at any corner and these armed robbers are just making meat out of them so it is a worry for the Police Service… We have scheduled a meeting with the telecom if we can discuss how best we can at least make sure anybody who is going to set up this money business will have a secure environment. Some of these are even operating on bicycles and these are easy prey for armed robbers,” he added.

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By: Marian Ansah/citifmonline.com/Ghana

The post Mobile Money robber arrested at Madina after escaping lynching appeared first on Citi 97.3 FM - Relevant Radio. Always.

This comes after some unknown men launched series of attacks on mobile money merchants in the country.

The most recent one resulted in the killing of a 31-year old operator at Kronom-Kyeraasi in the Afigya Kwabre District of the Ashanti Region.

[contextly_sidebar id=”CUb7nuMXN4kbGX4VdicrBU6YUTwJ2oSM”]The Ashanti Regional Police Public Relations Director, ASP Juliana Obeng, told the media that the Service is making frantic efforts to arrest the gang.

“It was necessary that we caution the general public to be alert and cautious of their area of operation to make sure that monies that are collected at a certain period will be taken to the bank before close of day instead of waiting for close of day before they take their monies to the bank, and then again they should alert the police of unsuspecting characters seen or found around. Honestly, we are not just talking about mobile money merchants but we also went ahead to alert shop owners and business people as well,” she added.

Vendors appeal for protection

Current figures show that mobile money agents increased from 136,000 in 2016 to 194,000 in 2017.

They have subsequently appealed for security following attacks on some agents.

‘We can’t protect every Mobile Money joint’

The Accra Regional Police Commander, DCOP George Alex Mensah, had earlier stated that it was impossible for his outfit to provide adequate security for every mobile money business in the capital Accra, due to what he described as the alarming rise in the number of operators.

According to him, it will be difficult for the Police Service, with its limited numbers to man all the mobile money points.

“They spring out at any corner and these armed robbers are just making meat out of them so it is a worry for the Police Service… We have scheduled a meeting with the telecom if we can discuss how best we can at least make sure anybody who is going to set up this money business will have a secure environment. Some of these are even operating on bicycles and these are easy prey for armed robbers,” he added.

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By: Naa Shika/citifmonline.com/Ghana

The post Beware of robbers – Police caution mobile money operators appeared first on Citi 97.3 FM - Relevant Radio. Always.

The latest victim is a 31-year old Mobile Money operator who was shot dead by some unknown assailants in the Afigya Kwabre District of the Ashanti Region.

Current figure show that mobile money agents increased from 136 thousand in 2016 to 194 thousand in 2017.

In this news desk report, Bobbie Osei explores the subject of security for mobile money vendors and the way forward in the following report.

Click to listen to full audio report.

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By: Bobbie Osei/citibusinessnews.com/Ghana

The post Mobile money attacks: Vendors appeal for protection appeared first on Citi 97.3 FM - Relevant Radio. Always.

The Kodie District Police Command confirmed the incident to Citi News.

[contextly_sidebar id=”qHchbALhsMgaadZEB7keTz5eeQJwCxm8″]The deceased, Richmond Ofori, also called Papa Yaw, died instantly after the two gunmen who were on a motorbike shot him twice.

The deceased’s friend, 25-year-old Malik Ezekiel, who was also shot in the legs, is currently on admission at the Komfo Anokye Teaching Hospital.

The assailants were said to have bolted with an unspecified amount of money.

Assembly Member for Kyekyere-Kyeraase Electoral, Michael Adu Poku also narrated to Citi News that when he got to the hospital, he was told that “the mobile money operator was dead on arrival.”

He noted that “after the incident, everybody’s attention was on the victims so no one took note of the assailants who committed the crime.”

The deceased’s body has since been deposited at the Komfo Anokye Teaching Hospital awaiting an autopsy.

Attacks on mobile money operators

This incident adds to the growing number of robbery attacks at Mobile Money spots.

The Accra Regional Police Commander, DCOP George Alex Mensah has attributed the increasing spate of attacks on mobile money businesses across the country to the proliferation of operators.

He said it is impossible for the Police Service, with its limited numbers, to provide security cover for all such businesses.

Proffering remedies to the challenges, DCOP Mensah also emphasized the need for the creation of a regulation that will determine the location of mobile money operation points.

“The banking sector is such that there is a law that without the presence of an armed officer you cannot open a bank so at the banks, if by 8.oclock, the police officer is not there, you cannot open,” he noted.

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By: Hafiz Tijani/citifmonline.com/Ghana

The post A/R: Mobile Money teller shot dead by robbers appeared first on Citi 97.3 FM - Relevant Radio. Always.

Kofi Agyei was handed the jail term after he pleaded guilty to the crime.

[contextly_sidebar id=”HBi4gWkFHBWh0B5cieSHOE1S8bmBLY0w”]Police Detective Chief Inspector Birikorang Peasah, told the court, presided over by Yusif Assibey, that the incident happened on December 13, 2017, at Patrensa in the Asante-Akim Central Municipality.

He said the victim, Sheila Fosua, had closed from work and was returning to the house at about 9: 20 pm, when the convict emerged from nowhere, pulled out a knife and ordered her to surrender the two handbags she was carrying or get stabbed.

She hesitated and Agyei scooped a handful of sand which he threw into her eyes.

He then snatched the bags containing cash of GH¢1,700.00, three mobile phones and recharge cards worth GH¢53.00 and fled.

Ms Fosua then made a formal report to the police leading to his arrest.

The prosecution said Agyei confessed to the crime in his caution statement.

–

Source: GNA

The post Man jailed 18 years for robbing mobile money vendor appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to eyewitnesses who spoke to Citi News’ Ebenezer Afanyi Dadzie, the two suspected robbers in a saloon car, approached the Mobile money point around 8:00pm on Thursday, and asked the vendor to hand over her money.

In the process, they fired a warning shot after the female vendor screamed for help.

One of the injured persons, a male, who was shot in the head, was about transacting business with the vendor when he was shot and his bag taken from him.

It is unclear whether he may have angered the suspects by attempting to resist their action. The suspects managed to rob the Mobile Money Point of their money, and immediately sped off in their saloon car.

The other injured person, who was shot in the rib, was also lying on the floor in pain, as residents made several failed attempts to reach the police and emergency services.

According to Ebenezer Afanyi Dadzie, as of the time  he was leaving the scene, the two had been taken to Hospital in private vehicles by relatives and onlookers.

A police car later arrived at the scene from the Odorkor Police Command. The vendor who manages the Frankmens Ventures Mobile Money point, a male, is said to have gone to church that evening, and had left the business in the care of his sister.

Residents expressed shock as to how the robbers could carry out the  dastardly act in such a busy area in the full glare of passers-by.

However, others told Citi News they had experienced this new trend of robbery at Mobile Money points within the vicinity.

3 wounded in robbery of Mobile Money Agent at Sahara

On December 29, 2017, three persons, including an 11-year-old boy, sustained gunshot wounds after a similar robbery incident at Sahara, near Dansoman in Accra on Thursday afternoon.

According to residents, the robbers who stormed the shop of a mobile money vendor, shot at him when he refused to handover his sales and was running away.

Some of the injured persons who were rushed to the Korle Bu Teaching Hospital hospital are still receiving treatment.

No security at Mobile Money Points

Robbery attacks at Mobile Money joints appear to be the new wave of crime at least in Accra, considering that thousands of agents are engaged in it, serving many Ghanaians who are either sending, receiving, or loading money into their wallets.

There is virtually no security at most mobile mobile joints, despite the huge transactions taking place at some points.

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By: citifmonline.com/Ghana

The post 2 shot as robbers attack Mobile Money agent at Busia Junction appeared first on Citi 97.3 FM - Relevant Radio. Always.