Ghana’s GCB enters the mobile money fray

Ghana’s GCB enters the mobile money fray

Ghanaian bank GCB has stated that it will launch its G-Money mobile money platform on 30th January.

GCB, which is one of the country’s leading banks, announced last year that it intended to compete with Ghana’s operator-branded mobile money services. In November, it was cleared to do so by the Central Bank.

A statement from the bank read: “Apart from affording customers the freedom to perform transactions regardless of their mobile network operator, G-Money will also create an enabling environment for the ongoing digitisation processes in Ghana’s economy.”

GCB noted that a bank-operated mobile wallet represented an “industry first” in Ghana, noting that customers would be able to manage payments, loans and savings via their devices. The country’s three largest operators - AirtelTigo, MTN and Vodafone – all provide a mobile money offering.