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The Mobile Money Agents Association of Ghana has justified its decision to cap cash withdrawals at a maximum of GH¢1,000 per transaction, effective today, December 1, 2023.
The union laments that the move is intended to draw attention to their longstanding concerns regarding inadequate compensation for their services.
In an interview on Eyewitness News, the General Secretary of the association, Evans Otumfuo, said the decision is aimed at sustaining their businesses.
“We have tried every opportunity to seek progress with our concerns, but to no avail. This started last year when we engaged all the telcos, including the regulator and other relevant agencies in the industry, just to draw their attention to issues that plague the business. But it appears that we are not getting to the end of the tunnel. So a week ago, we informed the stakeholders that, by the 30th of November, if the issues persist, on December 1, we are directing all our members that any withdrawal request that will come to them, the maximum that we expect them to give to customers is GH¢1000 cashout.”
In a bid to secure fair compensation for their services, Mobile Money (MoMo) agents across Ghana announced that they will implement a temporary measure limiting cash withdrawals to a maximum of GH¢1,000 per transaction from today.
The Association explained that this temporary measure is intended to draw attention to their long-standing concerns regarding inadequate compensation for their services.
