Mobile Money Interoperability Good Move for Financial Inclusion of Micro and Small Businesses

The Associations of Small Scale Industries, Ghana welcomes the mobile money interoperability initiative by
Government to address among many issues the drive towards a cash-lite society

As the apex body for the Micro and Small Scale business associations in Ghana, ASSI recalls during its Encounter with Presidential Candidates held in Tamale on 8 August 2016 with Nana Akufo-Addo and then running mate Dr. Mahamadu Bawumia, the point strongly advanced on the need for innovative ways to address the large portion of informal businesses outside of the banking sector, estimated at over 65%.

This problem, has over the years been one of the many factors accounting for the lack of access to affordable
credit by micro and small businesses in Ghana.

It is welcoming that the mobile money interoperability would be an important vehicle that enables majority
of our members, who own mobile money accounts, to seamlessly integrate it with a bank account. For the
micro and small business entrepreneur, time is money, and cannot afford the many delays that attended their
use of traditional banking to facilitate business transaction. We however wish to recommend that, in the short
to medium term, efforts are made to drive down further costs of transactions through this platform.

As a proactive body, we have initiated the USSD code *920*33# as a tool to assist our members market their
services to the general public through mobile phones (which would be launched in the 3rd quarter of 2018).

On this platform, it also affords the 9,000 + members currently registered the means to receive and
make payments for services rendered to the general public and among ourselves. Thus, the smooth
operations of the mobile money interoperability would go a long way to deepen trade and business for the
local economy.

Innovative and sustainable measures are needed to grow and transition the informal economy to more formal
status. The mobile money interoperability is certainly one of them.

(SIGNED) (SIGNED)
Charles Othniel Abbey

General Secretary

(020 456 8635)

Saeed Moomen
National President

(024 488 9961)

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