GHANA:Use Mobile Phones To Purchase T-Bills

The Executive Director of Ecobank Capital Advisor, Rita Ama Tsegah, has urged mobile money subscribers to transfer cash from their wallets to buy 91-day or 182-day Treasury Bills using an application on their mobile phones.

She said the Pan-African bank launched an app known as “TBILL4ALL” for every citizen to get onboard the financial inclusion drive.

Making a presentation on digital financial services at a training workshop in Kumasi for financial and economic journalists, Mrs Ama Tsegah stated that the world has become convenient with the advancement of technology.

The training was organised by the Private Newspapers Association of Ghana (PRIMPAG) in collaboration with the Bank of Ghana (BoG).

She explained that the bank has already set up the platform which makes it easier and quicker for people to purchase T-bills.

According to her, Ecobank has laid the foundation to enable mobile purchase to become mainstream option for T-bill, indicating that the bank wants to help people move out of poverty through the habit of savings and investment.

Anyone wishing to move money from their mobile money wallet to buy Treasury bill will only have to register with his/her full name, next of kin and the person's contact by dialing *770# and selecting option 2, the Ecobank Executive Director said.

The app would let the person select the tenure of the T-bill of his choice and enter the amount and confirm application details before the purchaser enters his mobile money pin to validate the transaction, she asserted.

According to Mrs Tsegah, the electronic transaction would lead to a revolution in the financial sector.