Four Mobile Money Agent Associations impose GHS1,000 limit on withdrawals

Four Mobile Money Agent Associations impose GHS1,000 limit on withdrawals

Four prominent mobile money agent associations in Ghana have collectively imposed a cap of GHS1,000 on cash withdrawals per transaction. The decision, disclosed through a joint statement by the Northern MoMo Agents Association of Ghana (NOMAAG), the Mobile Money Advocacy Group (MOMAG), the Mobile Money Agents Association Ghana (MMAAG), and ABAG, is set to take effect from December 1, 2023.

The collaborative measure, outlined in the joint statement, underscores the associations’ commitment to addressing concerns related to commission reviews and aims to safeguard the interests of dedicated agents. During this temporary restriction, the associations plan to engage actively with service providers to negotiate adjustments to commissions.

The joint statement reads: “Our goal is to ensure fair compensation for the dedicated agents. During this period, we will continue to actively engage with service providers to address the commission review concerns raised.” It further warns of potential further action plans should a favorable adjustment not be achieved within the one-month period.

The associations emphasize the significance of support and cooperation from stakeholders, urging them to join in mobilizing for fair compensation for mobile money agents. This collaborative move is deemed crucial for ensuring the sustainability of mobile money services in Ghana, as the industry grapples with the implementation of these temporary measures.