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MOMO fraud: MTN Ghana to block phones of fraudsters with new technology

The Senior Manager of Corporate Communications at MTN Ghana, Mrs Georgina Asare Fiagbenu has revealed that MTN Ghana would block phones of fraudsters as part of technological strategies to curtail mobile money fraud in the country.

According to her, the strategy was to make fraud expensive and unattractive for them to engage in since they would have to constantly have to buy new phones for their bad practices.

“We are putting in investment in technology that helps us to filter the messages that goes to customers. Also at the industry levels, there is a technology that allows us to be able to block phones that are used for momo fraud and this will make it more expensive for scammers to continue defrauding people,” she said.

Mrs Georgina Asare Fiagbenu was speaking in Koforidua during this year’s media stakeholder forum organised by MTN Ghana for the media in the Eastern region.

The purpose of the forum was to enable media know MTN’s activities, improvement in customer experience, and investment made in the area of the network, products and services.

The forum was also purposed to solicit for feedback from stakeholders to help the company to improve their services in the country and the region.

Mrs Asare Fiagbenu indicated that “unlike in the past where we just block the number, we have the technology to block the phones now. This is because previously, when we block the numbers, these fraudsters go and buy new numbers and register them. However we have decided to rather disable the phones they use as a measure to stop them.”

She stated that one of the major challenges facing the telecommunication company was mobile money (momo) fraud, noting that research conducted into the area has revealed a greater majority of people who fell prey to the fraud was as a result of social engineering.

“People continue to call our customers and tell them all kinds of stories while others push fake SMS to customers to convince them to take an action,” she said and warned customers to be alert and be mindful of their engagements with people they did not know and unfamiliar text messages.

She advised the to cross-check and verify every information while they ensured that money sent was for the intended recipient, adding that MTN officials would only call with the official line which was 0244300000.

She stated that the media has always been a key partner for sharing information with their stakeholders and called on them to continue to support the company to educate customers, engage and direct customers to the right sources of information.

Speaking on their corporate social responsibility, Mrs Asare Fiagbenu revealed that her outfit has made some significant contributions to education, indicating that MTN Foundation has invested 13.5 million in scholarships and the as part of its 25th Anniversary celebration cut sod for the establishment of a US$25 million dollars Ghana ICT Hub which would provide about 1000 employment to young people.

She stated the company would continue to provide more digital access and provide ICT equipment, skills, devices to enable young people to position themselves better for the future

From Ama Tekyiwaa Ampadu Agyeman, Koforidua

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GEXIM deepens relations with US EXIM Bank

A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.

The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.

The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.

Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).

Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.

The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.

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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama

President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.

Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.

He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.

“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.

President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.

He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.

He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.

“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.

Source: Myjoyonline.com