Gov’t determined to keep exchange rate stable – Bawumia
Vice President Dr. Mahamudu Bawumia has reiterated the determination of the government to stabilize the exchange rate and formalize the economy.
He also expects the creation of the interoperability platform to enhance seamless transaction between banks and telcos to encourage financial inclusion and thus reach the unbanked.
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Dr Bawumia made the observations when MTN Group Board Chairman, Mr. Phuthuma Nhleko and other MTN officials paid a courtesy call on him as part of engagements for MTN group board members during a working visit to Ghana.
“Government is determined to keep the exchange rate relatively stable, formalize the economy, create a digital economy with the national identification document for all eligible Ghanaians, create a payment system to encourage the financial inclusion agenda and maintain interoperability between banks and telcos,” he said.
The Ghanaian cedi currently exchanges at GH¢4.38/US$1.
Dr. Bawumia commended MTN for its leading role in Ghana’s telecommunications and economic landscape and reiterated government’s commitment to support MTN’s business and form partnerships for sustainable development.
MTN Delegation
The delegation of 25 MTN Group Board Members, Senior Executives and supporting staff convened in Ghana for a strategic planning session from July 6-7, 2017. The visit also aimed to deepen relationships between MTN and its stakeholders.
Introducing the delegation to the Vice President, Mr. Ebenezer Twum Asante, Chief Executive Officer of MTN Ghana said, “As a further commitment to the importance of MTN Ghana’s business, the entire MTN Group Board is in Ghana to deliberate about the business, look at the strategy to grow the business and further support Ghana’s operations.”
On his part, the MTN Group Chairman, Mr. Phuthuma Nhleko, expressed MTN’s continuous interest in partnering as it rolls out digital projects.
“It will be impossible to operate as a business without government’s support. As our operations become more complex, MTN will require government’s support to sustain its business growth,” he said.
Mr. Nhleko lauded government for creating a sustainable business environment for businesses and reiterated MTN’s intentions to continue investing in its network infrastructure to provide business and residential customers with good quality service.
He also touted the upcoming indigenization of 35% of MTN shares as manifestation of long term commitment to Ghana.
MTN Group President and CEO, Mr. Rob Shuter spoke about MTN’s focus on expanding digitization and financial inclusion in Ghana.
Other members present at the meeting were Karl Toriola, Vice President for West and Central Africa MTN Group, Mrs. Cynthia Lumor, Corporate Services Executive, Mr. Samuel Koranteng Senior Manager, Regulatory Affairs and Adwoa A. Arthur, Manager Regulatory Affairs, all from MTN Ghana.