Numerous mobile money agents to lose jobs

A huge number of Mobile Money agents in Ghana may soon lose their jobs due to the introduction of Mobile Money Interoperability (MMI).

The MMI platform allows subscribers to transfer funds from one mobile network to the other seamlessly as well as their banks.

The platform has so far recorded about 1.8 million transactions since the introduction of the MMI last week.

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The CEO of the Ghana Interbank Payment and Settlements Systems, Archie Hesse said the agents must be innovative and adapt to changing trends if they really want to stay in business.

“In business, you either renovate. I still see that the mobile money agent will have a role, electronic fund in the village, interoperability is there I still have to go to the agent to convert the cash to electronic then I can send but I will not need the agent if I have the electronic fund.”

“So I can see that over time the business will be changing and they also need to scale themselves appropriately to continue to stay in business but I don’t believe that there’s any business in the 1920s that are still the same. So businesses look at ways and means of adapting ways to suit the current trend”.