MoMo Agents to Implement Fair Compensation: Withdrawal Limits Capped at GH¢1,000 per Transaction,Starting December 1st.
Effective December 1st, 2023, four prominent mobile money agents associations in Ghana, namely Northern MoMo Agents Association of Ghana (NOMAAG), the Mobile Money Advocacy Group (MOMAG), the Mobile Money Agents Association Ghana (MMAAG), and ABAG, jointly announced a temporary measure to limit cash withdrawals to a maximum of GHS1,000.00 per transaction. This decision, aimed at […]
See full list: BoG shuts down over 300 microfinance companies
The Bank of Ghana (BoG) has revoked the operating licenses of over 300 microfinance institutions. A statement from the BoG says 192 of the companies that had their licenses revoked were insolvent and another 155 were revoked because they have ceased operations. These actions were taken pursuant to section 123 (1) of the Banks and Specialised […]
