MoMo Agents Archives - Wontumi Online

20 Mar

MoMo Agents Threaten Strike Over E-levy

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The Mobile Money Advocacy Group Ghana (MOMAG) and Momo Agents are up in arms with the Ghana Revenue Authority (GRA) for imposing E-levy on agent SIM cards. They argue that, this levy amounts to double taxation for their businesses. Despite engaging in discussions with the GRA to address their grievances, MOMAG said no satisfactory resolution has been achieved. The additional levy, coupled with the existing 10% income tax on transactions, is significantly impacting the financial viability of their operations, according to MOMAG. In a statement released on Wednesday, March 20, 2024, MOMAG revealed the urgency of the situation. According to…

30 Jan

Momo: Agent Accounts Not Link To Ghana Cards To Be Blocked On Feb. 1 – Telecos Chamber

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Electronic Money Issuers (EMIS) across the country have until the end of Wednesday, January 31, 2024, to collaborate with agents to link their accounts with the Ghana Card or TIN or have their SIM cards blocked. This directive was announced by the Ghana Chamber of Telecommunications in a statement dated January 30, 2024. According to the chamber, this directive follows multiple extensive engagements with the leadership of the Ghana Revenue Authority (GRA). In a statement issued on Tuesday, January 30, the Ghana Chamber of Telecommunications noted that “All agent accounts without Ghana Cards will be blocked on the 1 of…

22 Dec

MoMo Agents Suspend GHȻ1000 Cap On Withdrawals

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The Mobile Money Advocacy Group (MoMAG) has announced the immediate suspension of the GHȻ1000 cap on withdrawals. According to MoMAG, this decision comes after discussions with relevant authorities regarding their modest and stagnant commissions. In an effort to secure fair compensation for their services, Mobile Money (MoMo) agents throughout Ghana had earlier declared a temporary measure, restricting cash withdrawals to a maximum of GH¢1,000 per transaction starting from December 1, 2023. The Association clarified that, this temporary measure aimed to highlight their longstanding concerns about insufficient compensation for their services. However, in a statement released on Thursday, MoMAG said the…

04 Dec

MoMo Advocacy Group Assures Of Measures To Protect MoMo Agents Against Fraud

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The Mobile Money Advocacy Group has assured that steps are being taken to address cases of fraud perpetrated against its members. The group bemoaned the situation, emphasizing its negative impacts on the volume of transactions conducted and the limited number of agents operating during certain times of the day and in certain areas. The assurance was given following the arrest of a police officer, General Constable Ernest Agyemang Darko, who defrauded a mobile money agent of GH₵14,460 in Kasoa on November 29, 2023. In an interview with Citi News, the Director of Operations for the Mobile Money Advocacy Group, Stephen…

04 May

Momo Agents Threaten Strike Over Non-Payment Of Commission

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Some Mobile Money Agents across the country have bemoaned the delay in payments of their commissions. The Mobile Money Agents are also threatening to embark on a strike over the delay. The Mobile Money Agents including the Northern Momo Agents, Mobile Money Advocacy Group, ABAG and MM Agents Association of Ghana, further want an increase in the cap in commission to GH¢3000 from the current GH¢1,000. In a joint statement, the Mobile Money agents demanded: “The cash in Commission cap be moved from GH¢1,000 to GH¢3,000 while the 0.5% rate is maintained.” According to them, “failure to do something about…

05 Dec

MoMo Agents Want E-Levy Further Reduced To 0.5%

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The Mobile Money (MoMo) Agents Association of Ghana is urging government to further reduce the Electronic Transfer Levy (E-levy) from 1% to between 0.1 to 0.5%. The Minister of Finance, Ken Ofori-Atta, while presenting the 2023 budget and economic policy announced a reduction of the E-Levy from 1.5% to 1%. He also added that, the policy will now be applied to all transactions effective 2023. But the agents explain, the expected revenue target can be reached if government takes another view of the rate. Speaking to Citi News, the General Secretary of the Association, Evans Otumfour said, Ghanaians will keep evading…