The Mobile Money Agent Association of Ghana has announced the increase in the cash-out charges effective 1st July.

Effective Thursday 1st July 2021, the Mobile Money Agents Association of Ghana (MMAAG) has announced the increase in the cash-out charges. A statement which was released on 28th June by the Mobile Money Agents Association of Ghana appealed to their cherished customers to bear with them.

“ To the general public, please take note of these new changes of mobile money service charges taken effect from 1st July 2021. The same day the 10% tax imposition by the government on our cash-out service charge begins. We are pleading with you to comply with our members in their various shops.”

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They also added that it was their wish to increases the charges but they have no option other than to do this.

“This is never our wish but we don’t have a choice but the financial commitment are too much and absorbing this leaves us with nothing at the end of the day.”

According to the MMAAG, the government has instructed telecommunication companies to deduct 10 percent extra from the Cash-out service wallet.

“ Initially, agents pay 5% on the Cash-in service wallet but it was secretly increased to 10% without our knowledge. We feel this is a gross disregard to procedures.”

Hence, on each network, every agent will be paying 20% tax on a monthly basis.

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The Association also communicated about the insecurity, risks of armed robbery, acid baths, and fraud as far as mobile money is concerned. This leads to the death of customers, agents, etc, deformity, and loss of huge amounts of money. They added that when this happens the victims are left to their families without getting help from the government. This seems to be another burden for them. By this, they have decided to pass on the increment to those who patronize their services.

“Management is by this press informing all MoMo Agents to transfer the cost to the customer.”

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