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Mobile money agents face account blocks over Ghana card, TIN requirements

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Thousands of mobile money agents in Ghana face suspension from Wednesday, February 1, 2024, as a nationwide deadline to link accounts with national ID cards (Ghana card) or tax identification numbers (TIN) approaches.

The Ghana Revenue Authority (GRA) implemented the mandatory linking measure last year, aiming to boost tax collection and combat financial crime.

Electronic Money Issuers (EMIs), comprising the country’s leading mobile money operators, have been working to comply with the requirement.

Despite extended deadlines and outreach efforts, some agents remain unlinked. 

The Ghana Chamber of Telecommunications, representing EMIs, issued a final call to action today in a press release, urging agents to complete the process before Wednesday’s deadline.

“Information about this exercise has been communicated directly with all affected agents through multiple channels,” the Chamber’s press release stated. “Failure to do so before the end of January 31st, 2024, will lead to the blocking of their accounts.”

Agents with blocked accounts can visit operator outlets after February 1 to rectify the situation, but the disruption could still be significant. 

Mobile money plays a crucial role in Ghana’s economy, enabling millions to transact and access financial services.

The move has drawn mixed reactions. Some support the government’s effort to formalize the sector and tackle financial crime. Others, including consumer groups, express concerns about potential disruptions and limitations for unbanked individuals.

The Ghana Chamber of Telecommunications reiterates its commitment to “delivering convenient, secure, and accessible financial services to all Ghanaians.”

source by graphic news