MoMo: Now you cannot withdraw more than GH¢1,000 per transaction – details

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In a bid to advocate for the equitable treatment of Mobile Money Agents in Ghana, the leadership of the four Mobile Money Agents Associations has announced a significant decision scheduled for implementation starting December 1, 2023.

From this date onward, a provisional measure will be enacted, capping cash withdrawals at a maximum of Ghc1,000.00 per transaction for customers across diverse service providers.

This step aims to address concerns related to commission reviews and ensure fair compensation for the dedicated agents who play a pivotal role in the Mobile Money ecosystem.

The decision is part of an ongoing dialogue between the associations and service providers, with the objective of securing just and reasonable compensation for Mobile Money Agents.

This temporary measure is strategically implemented to underscore the significance of the matter and prompt a prompt and favorable adjustment in commission structures. Over the one-month duration, the leadership of the Mobile Money Agents Associations plans to actively collaborate with service providers to address raised concerns and work towards a fair resolution.

The ultimate goal is to create an environment where the contributions of Mobile Money Agents are duly acknowledged and compensated in a manner commensurate with their vital role in the financial services sector.

However, if no favorable adjustment occurs within this stipulated period, the associations express their regrettable preparedness to implement additional action plans. This firm stance underscores their unwavering commitment to achieving fair compensation for Mobile Money Agents. The group emphasizes that stakeholders, customers, and partners are encouraged to join in mobilizing support for the cause, advocating for the fair compensation of Mobile Money Agents, and fostering a sustainable and equitable Mobile Money landscape in Ghana.

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