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MoMo agents to limit withdrawals to GH¢1,000 per transaction for fair compensation

In an effort to champion the fair treatment of Mobile Money Agents in Ghana, the leadership of the four Mobile Money Agents Associations has announced a significant decision set to be implemented from December 1, 2023.

Mobile money booth

As of this date, a temporary measure will be in effect, restricting cash withdrawals to a maximum of Ghc1,000.00 per transaction for customers across various service providers.

This measure is designed to address concerns related to commission reviews and to secure fair compensation for the diligent agents who play a pivotal role in the Mobile Money ecosystem.

The decision comes as part of an ongoing dialogue between the associations and service providers to ensure that Mobile Money Agents receive just and reasonable compensation for their services.

The temporary measure is seen as a strategic step to emphasize the importance of this issue and encourage a swift and favorable adjustment in commission structures.

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During this one-month period, the leadership of the Mobile Money Agents Associations intends to actively engage with service providers to address the concerns raised and work collaboratively towards a fair resolution.

The goal is to foster an environment where the contributions of Mobile Money Agents are duly recognized and compensated in a manner that reflects the significance of their role in the financial services sector.

However, if within this stipulated period there is no favorable adjustment forthcoming, the associations have expressed regrettable preparedness to implement further action plans. This stance underscores the determination to achieve fair compensation for Mobile Money Agents.

See full statement below;

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The group further notes that stakeholders, customers, and partners are urged to join in mobilizing support for the cause, advocating for the fair compensation of Mobile Money Agents and promoting a sustainable and equitable Mobile Money landscape in Ghana.

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