MTN MoMo interest payments – Mobile Money (MoMo) has grown into one of the most influential financial tools in Ghana, transforming the way people save, spend, and transfer money. Recently, a remarkable story captured the attention of many Ghanaians after it emerged that a Mobile Money user received over GH¢4,700 purely in interest from MTN Ghana’s MoMo platform. The revelation has reignited conversations about the benefits of saving through MoMo, while also raising questions about security following MTN Ghana’s confirmed data breach earlier this year.
MoMo User Bags GH¢4,782 in Interest
MTN MoMo interest payments – In April 2025, a Facebook post by telecommunications expert Barnabas Nii Laryea showed a screenshot of a MoMo account credited with GH¢4,782.28 in interest payments. While it remains unclear if the account belonged to Laryea himself, the post revealed just how lucrative MTN Ghana’s Mobile Money savings feature can be.
Based on MTN’s standard mobile money savings interest rate of 12% per annum, this interest amount suggests that the MoMo user had GH¢39,935.67 sitting untouched in their account for more than a year. By leaving the funds idle, the user effectively earned returns similar to those of a traditional savings account, but with the added convenience of accessibility through their mobile phone.
This revelation has sparked excitement among mobile money users, showing that MoMo is not just a convenient payment tool but also a practical option for wealth growth.
How MTN’s Mobile Money Interest Feature Works
MTN Ghana introduced interest payments on mobile money accounts as a way of encouraging customers to keep funds on the platform. The model is straightforward: any customer who leaves money unused in their MoMo wallet earns annual interest, currently pegged at 12%.
This makes the MoMo wallet function like a pseudo-savings account, combining financial growth with the flexibility of instant withdrawals. Unlike traditional banks, however, MoMo wallets allow users to access their money anytime while still earning returns.
Beyond interest payments, MTN MoMo offers a wide range of services, including:
Sending and receiving money between MTN users and non-users
Payment of school fees, utilities, and merchant services
Airtime and data bundle purchases
Support for small business transactions
With over 17.2 million active users as of December 2024, MTN MoMo remains the leading mobile money service in Ghana, a market where digital payments are becoming the backbone of the economy.
Why Some MTN Customers Reject MoMo Interest
MTN MoMo interest payments – While thousands of customers celebrate the ability to earn interest on idle funds, not everyone is enthusiastic about it. In 2017, MTN Ghana introduced an option for users to opt out of interest payments.
This decision came after religious and ethical concerns were raised, particularly among Muslim customers who follow Islamic teachings. According to Islamic finance principles, earning or accepting interest (commonly referred to as “riba”) is prohibited.
For this reason, MTN gave customers the freedom to unsubscribe from interest earnings by dialing *595#. This feature ensures that every user has the choice to either grow their funds through interest or simply use MoMo for transactions without accumulating extra income.
MoMo Security: Data Breach Raises Concerns
MTN MoMo interest payments – Despite the excitement surrounding interest payments, MTN Ghana has faced a serious challenge with its digital security systems. On April 28, 2025, the company confirmed that a cybersecurity incident had compromised the data of over 5,700 customers.
Although MTN assured the public that its platforms remained fully functional, the breach raised fears about the safety of customer information, especially as mobile money has become a lifeline for millions. Investigations are still ongoing, with MTN pledging to strengthen its security framework to protect user data.
This incident highlights the double-edged sword of digital financial services: while they offer convenience and financial growth opportunities, they also expose users to potential cybersecurity threats.
The Bigger Picture: Mobile Money as a Wealth-Building Tool
MTN MoMo interest payments – The story of the GH¢4,782 interest payment is more than just a viral social media post, it is proof of how financial technology is reshaping personal finance in Ghana. Traditionally, people would have needed to open savings accounts with banks, maintain minimum balances, and endure strict withdrawal policies in order to earn similar returns.
With MoMo, however, ordinary Ghanaians can now grow their savings without stepping into a bank. For many, this is a financial revolution, breaking down barriers to access and making savings possible for even the unbanked population.
Experts argue that this development also supports the broader financial inclusion agenda, giving individuals in remote areas the same opportunities as those in urban centers. By combining accessibility, convenience, and interest earnings, MTN MoMo is helping bridge the gap between informal financial habits and structured savings.
MTN MoMo interest payments – While earning interest through MoMo is appealing, financial experts advise customers to consider a few important factors:
1. Security Risks: The recent data breach underscores the need for caution. Users should activate strong security measures such as PIN protection and avoid sharing their details.
2. Withdrawal Temptation: Unlike fixed deposit accounts, MoMo funds are accessible anytime, which may tempt users to spend rather than save long-term.
3. Alternative Investment Options: MoMo interest is attractive, but customers with higher risk tolerance may consider other investment vehicles such as mutual funds, treasury bills, or bonds.
4. Opt-Out Option: For those who cannot accept interest payments due to personal or religious reasons, MTN’s opt-out option ensures inclusivity.
Conclusion: A Testament to the Power of MoMo
The story of the MoMo user who earned GH¢4,782 in interest is a powerful reminder of the financial opportunities that mobile money platforms now offer in Ghana. Despite ongoing concerns about cybersecurity, MTN’s MoMo service continues to empower millions by providing not only convenience but also wealth-building potential.
As mobile money becomes increasingly central to Ghana’s economy, stories like this will encourage more people to see MoMo not only as a tool for sending and receiving money but also as a pathway to financial growth and independence.
