Edward Ofori Agyeman, President of the Mobile Money Agents Association Ghana, has urgently attributed a recent downturn in mobile money transactions to escalating robberies targeting agents.
This observation follows a report by the Bank of Ghana (BoG) highlighting a notable decrease in transaction volumes.
In a statement, Agyeman pointed out that mobile money agents’ primary operational hurdle is the lack of secure facilities to safeguard cash after business hours, compounded by the closure of banks and financial institutions when agents finish their workday.
He emphasized, “The workplace is inadequate for secure money storage, especially considering that banks are closed by the time MoMo operators complete their transactions.”
Agyeman highlighted recent incidents to underscore his concern, including a robbery in Kasoa where GH¢33,000 was stolen at gunpoint from a mobile money agent, and another in Koforidua where robbers made away with GH¢55,000, significantly impacting the victims and the industry as a whole.
Calling upon the Inspector General of Police, Dr. George Akuffo Dampare, Agyeman reiterated the urgent need for increased security measures to tackle this pressing issue.
“Dampare’s proactive visibility measures have been commendable, but I urge further enhancement, particularly through increased police patrols on motorcycles, especially in areas with high incidences of mobile money robberies,” he advocated during an interview on Onua FM.
The latest report from the Bank of Ghana for June 2024 indicated a significant decline in mobile money transactions, with total transactions dropping from 668 million in May to 644 million in June 2024.
This decrease corresponded with a reduction in the total value of transactions from GH¢234.3 billion to GH¢224 billion.
Despite the decline in transaction volumes, the balance of float slightly increased, rising from GH¢21.1 billion to GH¢22.2 billion during the same period. This indicates a rise in the amount of money held in mobile money accounts, which could potentially attract more robberies.
The Mobile Money Agents Association Ghana continues to advocate for enhanced security measures to safeguard both agents and the integrity of mobile money transactions amidst these challenges.
