As a partnering bank, Republic Bank can now hold on to funds generated from Vodacash transactions as deposits and also has the opportunity to offer other products and services through the Vodacash platform.

Unveiling the partnership in Accra, the Managing Director of Republic Bank, Mr Anthony Jordan, said: “The bank recognises the convenience of Vodafone Cash as an alternative means for the safe and secure transfer of money, hence the partnership with Vodafone. We at Republic Bank believe that taking our services closer to our customers goes beyond opening physical branches. It extends to providing a seamless means by which our customers can send and receive money in a safe and secure manner. As a result, we are very excited about the launch of our Vodafone Cash service.”

He said in addition to funds transfer and bills payment, the bank sought to extend its savings and loans products on the Vodacash platform.

Mr Jordan said the bank had nine branches in the cocoa-growing areas of the western part of the country and would, therefore, utilise the Vodacash system to support the cocoa farmers.

Present at the meeting were representatives of Vodafone Ghana led by the Mobile Financial Service Manager, Mr Carl Ashie, who expressed satisfaction with the progress made by Republic Bank in the past two years.

Mr Ashie took the opportunity to reiterate the importance of mobile money in the financial inclusion of the informal sector of our country.