Ghanaian Mobile Money (MoMo) agents will temporarily cap cash withdrawals at GH¢1,000 per transaction as of December 1. Four MoMo Associations—NOMAAG, MOMAG, MMAAG, and ABAG—announced this decision in a joint statement.
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This measure is not intended to cause inconvenience to customers; rather, its goal is to ensure that MoMo agents receive fair compensation for the services they provide. The associations want to draw attention to the necessity of a long-term business plan that ensures equitable pay for Mobile Money agents by using this brief restriction.
They stressed that the purpose of this action is to draw attention to the customers' ongoing concerns about not being paid enough for their services, not to cause inconvenience to them. Using this brief restriction, the associations hope to highlight how important it is to have a long-term business plan that pays Mobile Money agents fairly.
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The Associations declared, "We will continue to actively engage with service providers to address the concerns raised by the commission review during this period."
If no favorable adjustment is made within a month, further action plans may be implemented.
The Associations are calling on all stakeholders, including customers, to support their pursuit of fair compensation for MoMo agents, emphasizing that the sustainability of MoMo services in Ghana depends on establishing a fair and equitable system for all parties involved. They urge others to join them in mobilizing support for fair compensation for Mobile Money Agents.
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