Effective December 1, 2023, Mobile Money (MoMo) agents in Ghana will impose a temporary limit on cash withdrawals, with a maximum of GH¢1,000 per transaction, in an effort to ensure just compensation for their services.

Four MoMo Associations—the Northern MoMo Agents Association of Ghana (NOMAAG), the Mobile Money Advocacy Group (MOMAG), the Mobile Money Agents Association Ghana (MMAAG), and the ABAG—announced the decision in a joint statement.

The Associations clarified that the purpose of this interim measure is to raise awareness of their long-standing concerns about inadequate payment for their services.

The purpose of the move, they clarified, is not to cause inconvenience to customers, but rather to draw attention to the necessity of MoMo agents having a viable business plan.

“During this period, we will continue to actively engage with service providers to address the commission review concerns raised,” the Associations stated. “If, within the one-month period, there is no favourable adjustment, we will regrettably have to implement further action plans.”

In an effort to ensure that MoMo agents receive just compensation, the Associations made a call to all interested parties, including consumers. They stressed how important it is to maintain a just and equitable system for all parties involved if MoMo services are to remain sustainable in Ghana.

In an appeal, the Associations urged others to “join us in mobilizing support for fair compensation to Mobile Money Agents.”

The Associations sent out a call to all interested parties, including customers, to make sure MoMo agents are fairly compensated. They emphasized how crucial it is to keep the MoMo services sustainable in Ghana by upholding a just and equitable system for all parties involved.

The Associations issued an appeal, inviting people to “join us in mobilizing support for fair compensation to Mobile Money Agents.”