Customers to pay more for MoMo charges effective July 1

The Mobile Money (MoMo) Agents Association of Ghana (MMAAG) have announced an increase in charges effective Thursday, July 1.

This implies that customers would now have to pay more for cash-out services than before due to taxes imposed by the government.

They indicated that the government had ordered the telecommunication companies to deduct 10% extra from the cash-out service wallet.

Therefore, on each network, every agent would be paying 20% monthly tax.

On Monday, June 28, a statement issued by the association appealed to customers to bear with them and comply.

Announcing the changes in cash-out services, the association said, the tax sanctioned by the government together with the telecommunication tax was affecting their business.

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

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

The charge increase follows an emergency meeting on Friday, June 25, where they complained about a back-door increase in taxes imposed on telecommunication companies by the government.

Details of the new cash-out increment

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The association also expressed worry over incidents that negatively affect their operational cost and the lives of some of their members.

Several vendors have been shot and killed during robbery attacks across the country.

They noted that such robbery attacks had left some of their members to suffer acid baths.

Others have suffered from fraud, which sometimes leads to death, deformity, maiming and loss of huge amounts of money.

“The unfortunate aspect of it all is that the deceased and/or victims are left to their families without any form of support from the government,” MMAAG lamented.