Mobile Money (MoMo) agents across the country have agreed to institute a measure to limit cash withdrawals to a maximum of GH¢1,000 per transaction effective Friday, December 1, 2023.
They say the temporary measure is to ensure the agents get a fair compensation for their services.
Four MoMo Associations, namely: the Northern MoMo Agents Association of Ghana (NOMAAG), the Mobile Money Advocacy Group (MOMAG), the Mobile Money Agents Association Ghana (MMAAG), and the ABAG, outlined the decision in a joint statement.
They claim the move is not to inconvenience their customers but rather bring their attention to the paltry commission they make from their services.
The associations aim to use this temporary restriction as a means to underscore the necessity for a sustainable business model that ensures fair compensation for Mobile Money agents.
“During this period, we will continue to actively engage with service providers to address the commission review concerns raised,” the Associations stated. “If, within the one-month period, there is no favourable adjustment, we will regrettably have to implement further action plans.”
The Associations have issued a call to all stakeholders, including customers, urging their support in the pursuit of fair compensation for MoMo agents.
They have expressed that having a fair compensation and equitable reward for all MoMo parties is the sustainability of MoMo services in Ghana.
“We urge you to join us in mobilizing support for fair compensation to Mobile Money Agents,” they added.
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