Starting tomorrow, December 1, 2023, Mobile Money (MoMo) agents throughout Ghana will implement a temporary measure, restricting cash withdrawals to a maximum of GH¢1,000 per transaction.

This decision was jointly announced in a statement by four MoMo Associations.

In the statement, the Associations clarified that this temporary limitation is a strategic move to bring attention to their persistent concerns regarding insufficient compensation for the services they provide.

They underscored that the intention behind this measure is not to inconvenience customers but rather to underscore the critical need for a sustainable business model for MoMo agents.

While the decision aims to address the agents’ grievances, it’s important to note that this temporary cap on cash withdrawals may pose challenges for MoMo users, particularly those who rely on these services for larger transactions.