Starting December 1, Mobile Money (Momo) agents in Ghana will implement a new rule to limit cash withdrawal to GH¢1,000 per transaction.
Four MoMo associations—Northern MoMo Agents Association of Ghana (NOMAAG), Mobile Money Advocacy Group (MOMAG), Mobile Money Agents Association Ghana (MMAAG), and ABAG—have jointly announced this decision.
This move aims to ensure fair compensation for the services provided by MoMo agents.
It’s important to note that this restriction is not meant to inconvenience customers. The association wants to focus on the ongoing problems of MoMo agents regarding insufficient compensation.
The associations are calling on all stakeholders, including customers, to support their efforts in advocating for fair compensation for MoMo agents.
This action demonstrates the reason why we should recognize and deal with the situationa encountered by those involved in providing financial services through mobile platforms.
As the use of momo continues to grow, it becomes imperative to establish fair and sustainable practices with regards to its withdrawal limit and related activities.
People have received this news with varied feelings. Some are disappointed at the new rule. Others also added that it will cause the E-Levy to take more than usual from their balances.
The association has also encouraged customers to understand and support these measures. They additionally explained that it contributes to sustaining the system.
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