MobileMoney Fintech LTD (MMFL) is preparing to block mobile money agent and merchant SIM cards that fail to meet its Know Your Customer (KYC) requirements as the company intensifies efforts to combat fraud and sanitise its distribution network.
David Nana Addai, Mobile Money Channel Development Manager for the Northern Sector at MMFL, said the exercise was aimed at establishing accurate records of genuine agents and merchants and preventing unauthorised persons from using agent SIM cards to perpetrate fraud.
Speaking in an interview on Wednesday, October 21, 2026, after a stakeholder engagement in Tamale, Mr Addai said the KYC update exercise was expected to end on October 31, 2026.
The meeting brought together about 200 mobile money agents through their association leadership, alongside representatives of partner banks, traditional leaders, the police and other stakeholders in the mobile money ecosystem.
Mr Addai explained that some agent SIM cards had fallen into the hands of unauthorised persons after being sold or transferred, creating opportunities for fraudulent activities on the mobile money platform.
“We are therefore updating our records to identify genuine agents and merchants. At the end of the exercise, we intend to block and remove from the system SIM cards that have not been properly updated and are being used by unauthorised persons,” he said.
He urged all mobile money agents and merchants to visit the nearest MTN service centre with their Ghana Cards, business registration documents and relevant business certificates to regularise their accounts.
For agents who cannot visit the service centres, he said MMFL had deployed field teams to provide assistance. Selected agents had also been given access to help their colleagues complete the verification process.
Mr Addai said the exercise was intended to strengthen security and accountability within the mobile money ecosystem, where agents serve as critical links between service providers and customers.
MMFL targets agent welfare with insurance and pension products
Beyond the KYC exercise, MMFL is also engaging its agents on insurance packages and pension products intended to improve their welfare and long-term financial security.
Mr Addai said many mobile money agents operated in the informal sector, where access to structured pension arrangements and other forms of social protection could be limited.
“These agents operate largely in the informal sector, where pension arrangements are not always readily available. We want them to have some level of financial security and support when they grow old,” he said.
The stakeholder meeting also addressed business growth, customer service, overcharging and the support agents receive from partner banks.
Mr Addai said MMFL was engaging agents on the need to improve customer service and avoid overcharging customers, while discussing ways partner banks could provide better support to make agents’ operations more efficient.
He added that the meeting provided an opportunity to educate agents on new products and services introduced by MMFL for customers.
According to him, agents are important ambassadors for the company in their communities, making it necessary to equip them with the information they need to communicate new products and innovations effectively.
MMFL seeks stronger partnership with agents
Richard Asamani, Northern Sector Area Sales Manager of MTN Ghana, said the company remained committed to working closely with its agents and other stakeholders to sustain the growth of its mobile money business.
Mr Asamani described agents as the face of MMFL in communities, noting that their daily interactions with customers placed them at the centre of the company’s operations.
“MTN has reached where it is today partly because of the agents who serve our customers across communities. You are the face of MTN and mobile money in your various locations,” he said.
He explained that the meeting was intended to recognise the contributions of agents, provide a platform for them to raise concerns and gather feedback on measures needed to improve the business.
“Our meeting has three main objectives. First, we want to thank you for your support. Second, we want to hear from you about the challenges you face and what we can do together to take the business to the next level,” he said.
Mr Asamani added that the engagement would also update agents on new products and services available on the mobile money platform.
The engagement highlighted the importance of combining stronger controls against fraud with improved customer service, better institutional support and measures to protect the livelihoods of agents who sustain the mobile money business at the community level.
Source: www.kumasimail.com
