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In response to what they perceive as stagnant and insufficient commissions, the Mobile Money Advocacy Group (MoMAG) has taken decisive action. After engaging in discussions with pertinent authorities, MoMAG has promptly suspended the enforced limit of GHC1,000 on mobile money withdrawals.
This decision to revoke the cap was announced through an official statement released on Thursday, December 21st. The statement, issued by the Executive Board of MoMAG, highlighted ongoing negotiations with relevant authorities regarding the issue of unsatisfactory and unchanging commissions.
“We, on behalf of the Executive Board of MoMAG, wish to communicate that we have held meetings with the appropriate authorities concerning our concerns about the inadequate and fixed commissions, leading to the recent decision to restrict withdrawals to GHC1,000. We have consequently reached the following conclusion,” stated the release.
As a result of these discussions, MoMAG has opted to suspend the enforced limit on GHC1,000 withdrawals for the time being. This action is in anticipation of a final resolution, as pledged by the Ghana Chamber of Telecommunications and other telecommunications companies.
The move to reinstate the standard mode of transactions comes after Mobile Money agents initiated a withdrawal cap on December 1st, intending to underscore their dissatisfaction with the current situation.
The Mobile Money Advocacy Group has signaled a willingness to await further developments in the upcoming year, hoping for a definitive resolution to the ongoing discussions with telecommunications entities.
