MTN Ghana CEO calls for multi-sector collaboration to combat mobile money and internet fraud

MTN Ghana CEO calls for multi-sector collaboration to combat mobile money and internet fraud
CEO of MTN Ghana Selorm Adadevoh

Mr Selorm Adadevoh, the Chief Executive Officer (CEO) of , emphasized the need for a multi-sectorial collaboration to tackle the rising issue of (MoMo) and internet fraud in the country.

While there was a significant decline in MoMo fraud incidents until December of the previous year, fraudsters have now developed more sophisticated strategies to evade established security systems.

As Ghana moves towards becoming a digital economy, the CEO highlighted that internet and MoMo fraud pose a significant national threat, requiring stakeholders to work together to address the issue.

Mr Adadevoh addressed the 2023 Central and Western Regional Media and Stakeholder Forum in under the theme “Leveraging Technology to Serve Customers with Excellence,” which marked MTN's 19th annual media engagement after the pandemic.

He acknowledged the efforts of individual institutions in implementing defence mechanisms but stressed the importance of increased collaboration among telecommunication companies, banks, security agencies, and others to combat fraud effectively.

The fight against fraud should not be limited to MTN alone but should be approached as a national issue with collective efforts from all stakeholders.

Besides collaboration, public education needs to be intensified to raise awareness and empower individuals to protect themselves against fraud.

Mr Adadevoh reaffirmed MTN's commitment to building valuable platforms and solutions for Africa's progress and working towards creating an inclusive digital world accessible to everyone.

The company is actively involved in the government's digital transformation agenda and is on track to invest one billion dollars in network expansion by the end of 2025, with about 650 million dollars already invested since 2021.

MTN plans to exceed the one-billion- target by 2025 and is implementing measures to improve service delivery, including the creation of 350 new sites, with 50 of them located in the Western and Central Regions.

Highlighting MTN's contributions to national development, Mr Adadevoh mentioned that the company contributed over four billion dollars to government revenues in 2022.

However, he expressed concern about the frequent incidents of fibre cuts, mainly attributed to unregulated activities and road construction in the .

These fibre cuts result in network disruptions and increased operational costs as substantial amounts are spent on replacing the fibre optic cables.

To address this challenge, MTN has engaged various stakeholders, including road agencies and the police in the Western and Central regions, and has provided maps of their buried fibres to aid in infrastructure planning.

Collaboration between road agencies and MTN is crucial to protect the fibre cables during road construction projects and ensure uninterrupted network services.

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