MoMo Agents To Restrict Cash Withdrawals To GH¢1k Per Transaction

MoMo agents to restrict cash withdrawals to GH¢1k per transaction effective Dec. 1

By Majesty 2 Min Read

Mobile Money (MoMo) agents nationwide have collectively decided to implement a measure, effective Friday, December 1, 2023, restricting cash withdrawals to a maximum of GH¢1,000 per transaction. 

This temporary restriction is aimed at ensuring that MoMo agents receive fair compensation for their services. 

The decision, outlined in a joint statement by four MoMo Associations—Northern MoMo Agents Association of Ghana (NOMAAG), Mobile Money Advocacy Group (MOMAG), Mobile Money Agents Association Ghana (MMAAG), and ABAG—is not intended to inconvenience customers but to draw attention to the modest commissions earned by the agents.

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The associations view this temporary restriction as a way to emphasize the need for a sustainable business model that guarantees fair compensation for MoMo agents. 

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

Seeking support from all stakeholders, including customers, the associations emphasized the importance of fair compensation and equitable rewards for all parties involved in MoMo services in Ghana. 

They urged everyone to join in mobilizing support for fair compensation to Mobile Money agents, highlighting the significance of sustainability in MoMo services.

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