Mobile telephony giant; MTN in collaboration with Fidelity bank Wednesday launched a new product that allows all mobile money subscribers to save on their mobile phones.
MTN Yello Save, according to its architects delivers a whopping interest on savings of 12 percent per year.
At the launch of the product in Kumasi Wednesday, General Manager for the Northern Business District for MTN; James Bukari Basintale explained that there are no charges whatsoever on transactions. He tells rawgist.com that MTN Yello Save will help rope in a lot more people in the country’s efforts to promote savings culture.
For his part, a branch manager of Fidelity Bank in Kumasi; Nana Yaw Ofosu Asante lauded the collaboration between MTN and Fidelity Bank. He believes the collaboration will promote economic progress of Ghanaians.
Several market women who joined the launch were excited at the product as well as the prospects of gaining 12% interest; something that does not happen with regular savings accounts in various banks.
Currently, MTN has over 8 million Mobile Money subscribers and 58,000 agents nationwide; a position that makes the Y’ello Save platform an important avenue for subscribers to harness the benefits of savings.