MoMo agents to limit cashout to GH¢1,000 per transaction over unfair commission by MTN
The leadership of Ghana’s four Mobile Money Agents Associations has announced a major decision that will take effect on December 1, 2023, in an attempt to promote equitable treatment for these agents.
With effect, consumers will be limited to a maximum of GHC $1,000.00 per transaction for cash withdrawals.
In addition to providing just remuneration for the hardworking agents who are essential to the Mobile Money ecosystem, this proposal aims to address concerns about commission reviews.
In an effort to guarantee that Mobile Money Agents are fairly compensated for their services, the associations and service providers have been in constant communication, which has led to this decision.
The temporary measure is considered a calculated move to draw attention to the significance of the problem and promote a prompt and advantageous modification of commission structures.
The Mobile Money Agents Associations’ leadership plans to aggressively engage with service providers during this one-month period to resolve the concerns brought up and cooperate towards a just conclusion.
The intention is to create a setting in which Mobile Money Agents’ contributions are appropriately acknowledged and valued in a way that corresponds with the importance of their position in the financial services industry.
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