The Mobile Money Advocacy Group Ghana (MoMAG) has raised alarm over the growing impact of erratic power supply on mobile money operations, warning that the situation is disrupting transactions and affecting livelihoods across the country.
Speaking in an interview with 1960news.com during the group’s funfair, dubbed MoMAG Day Out 2026, held on Friday, May 1 to coincide with International Workers’ Day, MoMAG President Edward Ofori Agyemang described the situation as “very challenging” for agents whose work depends heavily on electricity.
According to him, frequent outages make it difficult to keep essential devices powered, even with backup options such as power banks.
“Sometimes the devices we use depend on electricity to charge. Even when you buy power banks, they are not always reliable. This current power fluctuation is worrying,” he said.
He noted that the challenge is not limited to mobile money agents but affects all sectors that rely on stable electricity.
While acknowledging slight improvements in recent days, he urged authorities, including the Energy Ministry, to intensify efforts to resolve the issue permanently.
“If business is running smoothly, everyone benefits, the government earns taxes, and citizens can take care of their families,” he added.
Beyond power outages, Mr. Agyemang highlighted a related problem which is network disruptions.
He explained that many telecommunications installations rely on electricity, and when power goes off, network connectivity is often affected.
“In my area, when the light goes off, you cannot do transactions at all. It affects the network because some of the poles depend on electricity,” he said.
He called on electronic money issuers (EMIs) and telecom operators to invest in stronger backup systems, including generators and durable batteries, while also ensuring adequate security to protect infrastructure from theft and vandalism.
The MoMAG Day Out 2026 event was organised in collaboration with major industry stakeholders, including MTN Group, Enterprise Insurance, Mobile Money FinTech Limited, and ALT Finance Solutions.
The inter-institutional gathering featured a mix of competitive and recreational activities such as football (men’s and women’s), ludo, oware, draft, tug of war, and lime-and-spoon races, all aimed at fostering unity and collaboration within the sector.
Delivering remarks at the event, Haruna Shaibu, Chief Executive Officer of Mobile Money FinTech Limited, described mobile money agents as the backbone of the industry.
“For me, the cornerstone of our business is our agents because they are the closest connection we have with our customers,” he said.
He emphasised that mobile money, which started as a small product, has evolved into a critical pillar of Ghana’s financial system, largely due to the dedication of agents across the country.
“This growth is purely because of the power of what you guys have done for us,” he added, commending MoMAG’s leadership for organising the sector and creating a platform for dialogue and collaboration.
Mr. Shaibu also presented GH₵10,000, along with packs of bottled water, drinks, and MTN paraphernalia, to support the event.
In a lighthearted moment, he challenged participants to a game of draft, offering a GH₵1,000 reward to anyone who could defeat him.
Also addressing participants, Paul Ampadu Yeboah of Enterprise Insurance encouraged mobile money agents to secure their financial future through pension and insurance plans.
He urged members to look beyond their current earnings and invest in long-term security, including life insurance policies that support children’s education and future needs.
“While you are doing well in your businesses, also think about your pensions and make sure you have a secure tomorrow,” he advised.
The event highlighted both the rapid growth of mobile money in Ghana and the operational challenges confronting agents on the ground.
While stakeholders celebrated the sector’s achievements, concerns over power reliability and network stability dominated discussions, underscoring the need for coordinated solutions to sustain the industry’s momentum.
By 1960news.com
