Millicom Ghana, operator of Tigo Cellular Network,
has launched a new product dubbed; "Tigo Cash," which would enable Tigo customers to send and receive money, top up airtime, pay bills as well as make purchases using their mobile phones.
Banks which are partnering Millicom Ghana for the implementation of the service are the Agricultural Development Bank (ADB), the United Bank for Africa (UBA), Ecobank and Fidelity Bank.
This was contained in a statement copied to the Ghana News Agency and signed by Mr Kwesi Donkor, Commercial Manager of Tigo Ghana.
Mr Haruna Iddrisu, Minister of Communications, in a speech, praised Millicom Ghana for the introduction of the service onto the Ghanaian market saying this would help deepen competition among the telecommunication operators and lead to improvement in service delivery.
"Such innovations would also enable the country to compete effectively on the global market in the telecommunication sector," he stressed.
The Minister noted that about 16.9 million Ghanaians now had access to mobile phones since it was no longer a luxury but a necessity.
He pledged government's support to all in the telecommunication sectors and urged them to let transparency reign in their activities. They should also execute more social responsibilities.
Mr Donkor noted that Tigo Cash would enable customers to use their electronic accounts to mobilize their cash and transfer it to members of
their family, friends and business partners.
He urged customers to register for the service with their ID cards at the nearest Tigo Cash Agent to activate the service.
"While at the Tigo Cash Agent's shop, the customer can choose to deposit money into their account. With money in their account the customer
can use their Tigo mobile phone to send money, buy airtime or pay bills at anytime, from anywhere and to anyone in Ghana," he said.
Mr Donkor noted that to withdraw money from the account, a customer only needed to visit a Tigo Cash Agent.
He said all Tigo subscribers could now access the Tigo Cash menu from their handsets by dialing *100#.
Mr Percy Grundy, Head of Innovation for the Africa Region and former General Manager of Millicom Ghana Ltd., said by offering Tigo Cash, Millicom Ghana aimed to achieve three main objectives.
These are to broaden and deepen financial access in the unbanked population through mobile financial services; to reach out to all
communities by facilitating their day-to-day financial needs; and to facilitate financial inclusion and make a substantial difference in the way people thought and dealt with money in their everyday lives.
Mr Franklin Belnye, Assistant Director, Banking Supervision Department at the Bank of Ghana, appealed to all the telecommunication operators in the country which were involved in mobile money, to educate their customers on
the service in order to avoid fraud.