To advocate for fair compensation, Mobile Money (MoMo) agents nationwide will enforce a temporary measure, capping cash withdrawals at a maximum of GH¢1,000 per transaction starting December 1, 2023.
The decision, communicated through a joint statement from four MoMo Associations—Northern MoMo Agents Association of Ghana (NOMAAG), Mobile Money Advocacy Group (MOMAG), Mobile Money Agents Association Ghana (MMAAG), and ABAG—is aimed at highlighting concerns over inadequate compensation for their services.
The temporary measure, lasting one month, seeks to draw attention to their plea for a more sustainable business model. The Associations emphasized that this action is not intended to inconvenience customers but to underscore the necessity for fair compensation.
In their statement, the Associations pledged ongoing engagement with service providers to address commission review concerns. If no favorable adjustment occurs within the stipulated one-month period, they expressed regret at having to implement further action plans.
Appealing for support from stakeholders, including customers, the Associations emphasized the critical role of fair compensation in sustaining MoMo services in Ghana.
They called on everyone to rally for equitable compensation for MoMo agents, acknowledging their pivotal role in the country’s evolving financial landscape.
While the decision to cap cash withdrawals may impact MoMo users, especially those engaged in significant transactions, the Associations hope for understanding and support from customers in their pursuit of fair compensation.
The MoMo sector’s substantial growth in Ghana has elevated the importance of addressing compensation concerns for agents facilitating these transactions.
