The Mobile Money Advocacy Group Ghana (MoMAG) has issued a dire warning concerning the escalating violence against mobile money agents across the country. These agents, who form the backbone of Ghana’s burgeoning mobile money industry, have become increasingly vulnerable to attacks, robberies, and even killings, highlighting a critical security gap that demands immediate government intervention. MoMAG’s plea underscores the vital role these agents play in Ghana’s financial ecosystem and the devastating impact their vulnerability has on both the industry and the wider economy. The recent spate of violent incidents, including robberies and murders, paints a grim picture of the risks these essential workers face daily. The lack of adequate security measures leaves them exposed and susceptible to criminal activity, jeopardizing not only their lives but also the stability of a crucial financial service.
MoMAG has detailed several disturbing incidents that illustrate the escalating threat. These include the tragic killing of an agent in Krofrom, Ashanti Region, in January 2025, followed shortly by another fatal shooting in Nkrankwanta, Bono Region. Further incidents of armed robbery, resulting in significant financial losses for agents in Kasoa and Spintex, further emphasize the precarious nature of their work. The frequency and severity of these attacks underscore the urgent need for a comprehensive security strategy to protect these vulnerable individuals who provide essential financial services to communities across Ghana. The ongoing violence not only threatens the livelihoods and lives of the agents themselves but also undermines the stability and growth of the mobile money sector, a key driver of financial inclusion and economic development in the country.
The importance of mobile money agents in Ghana’s financial landscape cannot be overstated. They provide a crucial link between formal financial institutions and a vast population that often lacks access to traditional banking services. With over 609,000 active agents serving millions of customers, they represent a vital channel for financial transactions, particularly in rural and underserved areas. These agents facilitate a wide range of financial activities, from basic money transfers and bill payments to more complex services like insurance, pensions, and access to fintech solutions. Their presence bridges the gap between traditional banking and the unbanked population, driving financial inclusion and contributing significantly to economic growth. The attacks on these agents, therefore, represent not just a security issue but a threat to the financial well-being of a significant portion of the population.
The mobile money industry’s contribution to Ghana’s economy extends far beyond facilitating transactions. It provides employment for over one million youth directly and supports an additional 500,000 indirect jobs, including opportunities within the burgeoning fintech sector. The industry also generates significant tax revenue for the government, contributing substantially to the national coffers. This economic impact highlights the crucial role the mobile money sector plays in Ghana’s development and the ripple effect that threats to its stability can have on the broader economy. Protecting these agents is, therefore, not just a matter of individual safety but a matter of safeguarding a vital economic engine.
While awaiting government intervention, MoMAG has recommended several practical safety measures for agents to adopt. These include closing their businesses by 6:00 pm to avoid operating during high-risk hours, refraining from discussing sensitive transactions in public to maintain confidentiality and avoid attracting unwanted attention, and avoiding withdrawing large sums of money to minimize potential losses in case of robbery. The installation of CCTV cameras is also strongly advised to deter criminals and provide evidence in the event of an incident. These precautionary measures, while helpful, are ultimately insufficient without a robust security framework provided by law enforcement and government action. They serve as a temporary stopgap while a more comprehensive and sustainable security solution is implemented.
MoMAG’s urgent appeal to President John Dramani Mahama, the Interior Ministry, the Defence Ministry, and National Security underscores the gravity of the situation. The association insists that the government must take immediate and decisive action to protect these essential workers and safeguard the mobile money industry. The call for increased security presence, improved response times, and a comprehensive strategy to combat the escalating violence is not just a plea for protection but a demand for the government to fulfill its responsibility in ensuring the safety and security of its citizens and the stability of a vital economic sector. The future of mobile money in Ghana, and its significant contribution to financial inclusion and economic growth, hangs in the balance, necessitating immediate and decisive action from the government to address this critical security challenge.
