MTN plans blockchain technology to fight mobile money fraud
MTN Ghana has announced a major technological shift to strengthen the country’s digital finance ecosystem by deploying blockchain technology to combat fraud, enhance transparency, and rebuild public trust.
At the 2025 Fintech Stakeholder Forum in Accra, Mrs Sylvia Otuo-Acheampong, Chief Product and Services Officer at MobileMoney Ltd (MML), said the company had developed a comprehensive framework to integrate blockchain into its mobile money operations.
The initiative targets critical areas such as transaction traceability, digital identity verification, and Know Your Customer (KYC) management.
Held under the theme “Harnessing Ghana’s Fintech Potential: Regulatory Frameworks for Digital Credit and Digital Assets,” the forum brought together regulators, fintech firms, banks, policy experts, and academia to discuss how Ghana can strengthen digital payments and ensure responsible innovation in the growing fintech space.
Mrs Otuo-Acheampong said the initiative represents a cornerstone of MTN’s broader digital transformation agenda for 2025 and beyond.
“Blockchain will help us embed trust in the system. It is not about cryptocurrency; it is about leveraging technology to make transactions transparent, verifiable, and tamper-proof,” she explained.
Executives clarified that blockchain is not limited to digital assets but serves as a secure and auditable technology framework.
Fraud has long plagued Ghana’s mobile money sector, eroding user confidence and causing significant losses for both consumers and service providers. MTN’s blockchain initiative directly addresses this challenge through a distributed and immutable ledger that records every transaction from its origin to its destination.
According to the Bank of Ghana, more than 15,000 mobile money-related fraud incidents were reported in 2024, resulting in losses exceeding GHS30 million.
Blockchain could dramatically reduce these figures by enabling real-time verification, secure audit trails, and interoperability between financial platforms.
