Effective December 1, 2023, Mobile Money (MoMo) agents in Ghana will be limiting cash withdrawals to a maximum of GH¢1,000 per transaction.
The move is a temporary measure aimed at securing fair compensation for the services offered by the agents.
Four MoMo Associations: the Northern MoMo Agents Association of Ghana (NOMAAG), the Mobile Money Advocacy Group (MOMAG), the Mobile Money Agents Association Ghana (MMAAG), and the ABAG announced the decision in a joint statement today.
The associations clarified that the temporary measure aims to highlight their longstanding concerns about inadequate compensation for their services.
They emphasized that the move is not meant to inconvenience customers but rather to highlight the need for a sustainable business model for MoMo agents.
“During this period, we will continue to actively engage with service providers to addressthe commission review concerns raised. If, within the one-month period, there is nofavorable adjustment, we will regrettably have to implement further action plans”, the statement added.
The associations called on all stakeholders, including customers, to support their efforts towards achieving fair compensation for MoMo agents.
They emphasized that the sustainability of MoMo services in Ghana depends on ensuring a fair and equitable system for all parties involved.
The associations appealed to everyone to join in mobilizing support for fair compensation to Mobile Money Agents.