Vodafone is to launch its M-Pesa mobile money service in Ghana, where 64% of the population do not have bank accounts.
The launch of the service, operating in Ghana under the ‘Vodafone Cash’ brand, follows a successful pilot in August 2015. It is the 11th market worldwide for M-Pesa, which has experienced a 27% year-on-year growth curve to reach 23.4 million active users by 30 September 2015.
In Ghana, the service has a market opportunity of 15 million potential users who do not currently have access to a bank account.
Vodafone director of mobile money Michael Joseph says: “Vodafone Cash extends the revolution of mobile money to Ghana, liberating our customers from the risks associated with carrying cash at all times.”