Ghana’s telecom operator Tigo Ghana has reported that around one-third of its customers are currently using its mobile money service Tigo Cash. It said that the platform was seeing around GHS 11 million daily in transactions.
Head of Mobile Finance Service for Tigo Ghana Selorm Adadevoh told Adom News that “about 30 percent of Tigo’s over 3.75 million subscribers are registered on Tigo Cash, of which 13 percent are actively doing between five and 6 transactions a month.”
In comparison, Airtel Money has only 900,000 customers, recording some 540,000 transactions monthly and circulating over GHS 4 million daily, while MTN Mobile Money claims over 3 million subscribers and records about 1.5 million transactions worth about GHS 52 million monthly, local reports suggested.
Tigo Cash offers basic services such as airtime purchase, peer-to-peer money transfer and cash withdrawals from agents, however analysts believe other operators are in a position to challenge Tigo’s position atop the mobile money market in Ghana.
MTN Mobile Money and Airtel Money provide additional opportunities such payment of bills, shopping online and offline, payment for food at selected restaurants, and a full range of mobile banking services, analysts said.
Adadevoh believes Tigo Cash “is doing relatively well because it has been kept simple, reliable and less confusing compared to the other mobile money services on the market.
“In addition to the basic functions, Tigo Cash also allows bulk payment such as wages to several people and for goods and services with one click,” he added.