RedSave launched to drive financial inclusion

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Mr Amoateng

Telecel Ghana has through its mobile money service, Telecel Cash, launched RedSave, a revolutionary digital savings account designed to make saving effortless, accessible, and rewarding.

With the overarching aim of driving financial inclusion and empowering more Ghanaians economically, Telecel Ghana has partnered with FirstBank Ghana to transform how Ghanaians save by providing a seamless digital platform in order to earn interest directly from their mobile money wallets.

RedSave, which offers up to

8 per cent annual interest, is an important step toward increasing financial inclusion, particularly those who have been excluded from access to traditional banking systems.

Irrespective of location, any Telecel Cash user can open a RedSave account instantly with only a mobile phone.

“We are thrilled to introduce RedSave as part of our commitment to bring financial services closer to the people,” Philip Amoateng, Director of Telecel Cash and Digital Transformation said.

“By working with FirstBank, we’ve created a savings solution that is not only accessible but

rewarding. This initiative gives our customers the tools to build a stronger financial future, reinforcing our goal of leveraging technology to improve lives.”

Designed to promote a savings culture while ensuring that it remains convenient and user-friendly, RedSave offers customers convenience. To open a RedSave account, customers simply dial *110# and select the savings option. The process is quick and convenient, requiring only a minimum opening balance of GH¢5.

With interest rates of up to 8 per cent per annum, accrued daily and paid quarterly, RedSave offers a unique way for Telecel Cash users to grow their savings without visiting a physical bank branch.