Betway Advocates Stronger MoMo Services Regulation

Dr. Ainuson explaining a point

BETWAY GHANA, a leading online sports betting company, has called for stringent regulations in Ghana’s mobile money industry, especially in the sports betting industry, to check the perpetration of certain unlawful practices.

According to the company, a well-regulated mobile money sector would enhance the rapid growth of e-Commerce in Ghana and boost the confidence of key players in the sector.

Dr. Kweku Ainuson, director and company secretary of Betway Ghana, disclosed this when he joined other panelists at the Mobex Africa Tech Expo to discuss mobile money and its regulations in Ghana’s e-Commerce industry.

Dr. Ainuson mentioned measures being put in place by his outfit to monitor and supervise the betting landscape against vices such as money laundering and underage betting.

He said, “We have adopted a zero tolerance to money laundering or any financial crime. A compliance officer has been appointed and we are offering extensive training to staff on the company’s view, spotting and reporting of such activities.”

Dr. Ainuson further touched on sanctions and measures that were in place to help monitor and minimise any such activities.

He said through such measures, relationships with players who were suspected of money laundering or any financial crime would be terminated.

“Such suspicions will be investigated thoroughly and actions taken accordingly. Guilty parties would be reported to the appropriate law enforcement organisations” he said.

The platform provided a stage for creating opportunities for local technology innovators and start-ups.

This year’s Mobex Africa Tech Expo was held at the Kempinski Hotel in Accra under the theme “E-Finance; Future of Payments and Banking.”

A business desk report