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MTN Ghana to sanction vendors who charge extra money for credit transfers

Telecompaper Wireless MTN Ghana to sanction vendors who charge extra money for credit transfers Monday 15 March 2021 | 10:09 CET | News MTN Ghana has warned that it will sanction vendors who charge customers a fee when they sell them MTN airtime via the Electrical Virtual Distribution (EVD) system or credit transfer, reports Citi Business News. MTN has reduced the amount of physical recharge cards on the market as part of efforts to go digital, compelling more people to rely on mobile money and EVD. At the end of 2020, MTN physical recharge cards made up only 5 percent of the recharge options made available by the telecoms company to the general public.

Ponzi Schemes: Provide investor education for vulnerable groups – Alex Boahen

Alex Boahen is Head of Research at Databank The Head of Research at Databank, Alex Boahen, has called for more investor education, on the operations of Ponzi schemes, to be made to the public by regulators. He stressed that vulnerable groups especially need such education so they better know how to engage the services of such schemes in future. The Economic and Organized Crime Office (EOCO) had cause to recently issue a caution to the public on the activities of the CHY Mall, under which Chy Century Yue Group Limited, and Sairui E-Commerce Limited operate, on the grounds that they are operating a Ponzi scheme.

Ghana in technical recession after latest economic contraction – Economist

Economist with Databank, Courage Martey says Ghana has entered into a technical recession following a contraction of the economy for a second straight quarter in 2020. Latest provisional figures released by the Ghana Statistical Service show that the Ghanaian economy has contracted for the second straight quarter, with the value of goods and services produced in the 3 rd quarter of 2020 declining by 1.1 percent when compared to the value of goods and services produced in the same period in 2019. The latest contraction according to the government statistician, Professor Samuel Kobina Annim was driven by negative growth in the industry and services sectors of the economy which both contracted by negative 5.1% and negative 1.1% respectively.

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