BoG releases MoMo interest payment schedule
The Bank of Ghana has released the schedule for the payment of accrued mobile money interest to customers.
The 2019 quarterly accrued interest payment dates are as follows:
First Quarter – Sunday, 21 April 2019
Second Quarter – Sunday 21 July 2019
Third Quarter – Sunday, 20 October 2019
Fourth Quarter – Sunday, 19 January 2020
The interest payment to Mobile Money (MoMo) wallet holders came into being thanks to the Bank of Ghana’s Dedicated Electronic Money Issuers (DEMI) Guidelines which allows banks to pay interest on cash flow from the mobile money platforms to the network operators, who, in turn, pay out 80% of that interest to their mobile money customers.
The Guidelines approve an interest level of between 1.5 per cent and 7 per cent to be paid on a wallet.
Tags:
Related Posts
N Seven increases equity stake in Guinness Nigeria via NGX
Major shareholder N Seven Nigeria Limited has increased its equity holding in Guinness Nigeria Plc after purchasing 550,092…
By
Eric Intong Monchu tapped new MD(CRRO) at Afreximbank
Cameroonian banker Eric Intong Monchu has been officially confirmed as Group Managing Director, Client Relations and Regional Operations(CRRO)…
AFC launches new Bermuda Subsidiary to manage infrastructure risk
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has established a wholly owned Bermudian subsidiary, AFC…
Sahara Power Launches Construction of 12MW IPP in Lagos
Sahara Power Enterprise Group (SPEG), one of Africa’s largest privately owned power companies, has begun construction of a…
Gallery
