The growing adoption of mobile money and other cashless payment systems could help Ghana reduce the circulation of counterfeit currency and strengthen financial security, according to the Mobile Money Fintech Limited (MMF).
David Nana Addai, MoMo Manager for Northern Ghana at MMF, said businesses, traders, entrepreneurs and market women should increasingly embrace MoMo accounts as the country moves towards a more cashless economy.
He said digital transactions offered customers a safer alternative to keeping large amounts of physical cash while also making everyday payments and money transfers more convenient.
Mr Addai made the call in an interview with the media on the sidelines of the MoMoFest 2026 organised by MMF at Berekum in the Bono Region.
He said the transition to a cashless economy could contribute to efforts to combat corruption and the circulation of counterfeit money by reducing reliance on physical cash.
“MoMo remains the surest way to keep our money safe and against counterfeits too,” he said.
According to him, MoMo had evolved beyond a platform for sending and receiving money into a nationwide digital financial service supporting payments, savings, insurance, credit and broader financial inclusion.
He, however, cautioned that the growing use of digital financial services also required customers to take personal responsibility for protecting their accounts.
Mr Addai urged customers never to disclose their MoMo PINs and to carefully verify transactions before approving them.
He also warned customers against responding to unsolicited or suspicious phone calls that could expose their accounts and personal information to fraudsters.
He said fraudsters continued to develop new methods of targeting mobile money users, making public education and customer vigilance critical to protecting digital transactions.
Mr Addai assured customers that MMF would continue to intensify education and sensitisation programmes to keep users informed about emerging fraud tactics and the measures required to protect their accounts.
The comments were made during the two-day MoMoFest 2026 revival concert at the Berekum Mised Park, an event designed to demonstrate how customers could use MoMo for everyday payments, transfers and other financial services.
The event also combined music and culture with financial technology education, featuring emerging artistes including Kweku Smoke and friends.
As part of the initiative, MMF launched a three-week activation in the Berekum Municipality focused on MoMo App onboarding, cashless payments, merchant engagement and fraud education.
The activation is also expected to give customers and merchants practical experience of how digital payments can simplify daily transactions, support small businesses and expand access to financial services.
Mr Addai said the 2026 MoMoFest was supported by Ecobank Ghana PLC, Guinness Ghana Breweries Limited (GGBL), Ayo Ghana and MTN Business.
He said the partnerships would help take the MoMoFest experience closer to customers and communities across the country while promoting safer and more convenient digital financial transactions.
