In a collective effort to advocate for fair compensation, Mobile Money (MoMo) agents in Ghana are implementing a temporary measure, restricting cash withdrawals to a maximum of GH¢1,000 per transaction, starting December 1, 2023.
The decision, jointly announced by four prominent MoMo Associations—Northern MoMo Agents Association of Ghana (NOMAAG), Mobile Money Advocacy Group (MOMAG), Mobile Money Agents Association Ghana (MMAAG), and ABAG—aims to address longstanding concerns regarding insufficient compensation for the services rendered by MoMo agents.
The associations clarified that this step isn’t intended to inconvenience customers but rather serves as a means to underscore the need for a sustainable business model for MoMo agents. They emphasized ongoing engagement with service providers to address concerns regarding commission reviews. If a favorable resolution isn’t achieved within the one-month period, the associations regretfully indicated the potential for further action.
In their statement, the associations called for solidarity from all stakeholders, including customers, in their pursuit of fair compensation for MoMo agents. They underscored that the sustainability of MoMo services in Ghana relies on establishing an equitable system beneficial to all involved parties.
While acknowledging potential disruptions, particularly for users relying on MoMo services for substantial transactions, the associations appealed for understanding and support from customers toward their efforts to ensure fair compensation.
The MoMo sector has substantially expanded, becoming an integral element of Ghana’s financial landscape. MoMo agents play a crucial role in facilitating these transactions, making fair compensation a pressing issue for the sector’s sustainability.