Beginning on December 1, Momo Agents Will Cap Cash Withdrawals at GHC 1,000 Per Transaction.

Four Ghanaian mobile money agents associations have agreed to cap cashouts at GHS1,000 per transaction in an effort to provide loyal agents with just compensation.The leadership of four associations—the Mobile Money Advocacy Group (MOMAG), the Mobile Money Agents Association Ghana (MMAAG), the Northern MoMo Agents Association of Ghana (NOMAAG), and ABAG—announced the decision in a joint press release.

“We would like to draw your attention to a significant decision made by the four associations in Ghana that represent mobile money agents. A temporary measure that limits cash withdrawals to a maximum of GHS1,000.00 per transaction for customers of all mobile money agents across various service providers will take effect on December 1st, 2023.

“We want to make sure that the committed agents receive just compensation.” We will keep working closely with service providers throughout this time to address the issues brought up by the commission review,” the statement said in part. “If, within the one-month period, there is no favourable adjustment, we will regretfully have to implement further action plans,” the press release continued.

We kindly ask you to unite with us in advocating for equitable remuneration for mobile money agents. It continued, “Your cooperation and solidarity are essential to guaranteeing the long-term viability of Ghana’s mobile money services.