Unemployment: MTN Offers Hope to the Youth

Entrepreneurs play significant roles in economic growth and with innovative technologies productivity is also increased, creating new job opportunities in the short and long term. Available estimate from the Ghana statistical service reveals that youth unemployment in Ghana as at 2015 stood at 14.17%, and declined to 8.72% in 2019, the decline was attributed to the youths understanding of the role and importance of the entrepreneurship.

The Mobile Telecommunication Network (MTN) is the leading provider of telecommunications service in Africa and the Middle East. Its mission is to be a vehicle for Ghana’s economic growth and development, and provide good customer service with a wide variety of network services as well as segments.

Since the establishment of MTN, the company has provided jobs to over 1 million Ghanaians.  These jobs include mobile money banking commonly known as MOMO, sales of scratch cards, sale of modem, internet business, electronic recharge, mobile phone assembling, sales of mobile phone, and different entrepreneurship project schemes. In recent times, MTN has given the youth the opportunity to venture into entrepreneurship in diversity mobile money business. Mobile money commonly referred to as MOMO is a technology that enables financial transactions through mobile phones without a bank account. This is driving financial inclusion, especially in developing countries, giving more people a chance to use financial products and services. Mobile money was first introduced in Ghana in 2009. In 2020, MNT became the first company in the world to use mobile money to buy shares.

There is a policy to encourage the use of mobile money and reduce the flow of physical cash in Ghana. The mobile money has proven popular because of its benefits.

In spite of these cases of mobile money fraud has increased. Reports from the cybercrime unit of the Ghana Police Service showed over 300 reported cases in 2019.

Consequently, MTN, the biggest mobile money operator in Ghana, has introduced a new policy to reduce it by introducing the proof of identity (ID) before a customer can withdraw cash. Valid forms of proof are a driver’s license, voter’s ID, passport, Social Security and National Insurance Trust ID, National Health Insurance card or Ghana card (national ID). All mobile money agents will have to select the ID type and enter the ID card number presented by the customer before completing the transaction. This is a form of reducing mobile money frauds in Ghana but much more needs to be done. Due to advancement in digital technology, Ghana is yet to have accurate data base technology for proper identification its citizens, foreigners and monitor other activities.

Managers

The Control Manager, Mobile Financial Service of MTN Ghana, Mr. Eli Him revealed that people are now use mobile money to by air ticket.   He noted that people can transfer money, save money or make payments wherever they are, in a simple, fast, convenient and affordable way.

Meanwhile the General Manager of Northern sector, Mr. Adotey Mingle has told press that mobile is regulated by bank of Ghana and there is no problem it.

Unemployed Youth satisfaction

Speaking to the journalist some of the unemployed graduates indicated that setting- up a new business is not easy task but through MTN entrepreneurship projects they are now able take of themself and support their family. 

Some of the mobile money venders stated emphatically that they own financial business and using mobile money account to do business is flexible and easy.

Today, it is on record that MTN has reduced unemployment rate in the country and most youth have become financial independent and are able to pay tax from their business

MTN was adjudged the best tax payer and the leading tax payer in Ghana for the years, 2013, 2014, 2017 and 2018.  In 2019 MTN won platinum awards.

Special Report by Kweku Bolton

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