Frequent question: How much do you need to start a mobile money business in Ghana?

There is a minimum capital requirement that is expected from a prospective MTN Mobile Money Ghana agent. At GH¢ 4,000 is the required minimum amount of money you are required to have to become an agent.

Is Mobile Money profitable?

The mobile money business is a profitable business in Uganda. Besides, you can provide other income-generating services like selling sim cards, airtime, soft drinks, and sim card registration.

How do I start a mobile money business in Ghana?

How to register MTN mobile money

  1. You must own a registered limited company or its equivalent.
  2. You must fill in and submit a form known as the Agent Recruitment Form.
  3. You must fill in and submit a form known as the Agent Account Handler Form.
  4. You must meet the minimum Merchant/Agent code of ethics requirements.


How much do I need to start a mobile money?

Present a letter of introduction/recommendation from the Local Council. Have a deposit of UGX 80,000/= (Eighty Thousand Shillings) to purchase the kit. Fill in an application form. Have starting Float of UGX 2,000,000/= (Two Million shillings)

How do I start a mobile money business?

Requirements to become an MTN Mobile Money Agent in Uganda

  1. You must have startup capital of UGX 1,500,000/- or UGX 1,000,000 if registering through a master agent or aggregator.
  2. Be registered as a limited company or sole proprietorship for period not less than one month.
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How do I become a MoMo agent?

Requirements for MoMo Agents

  1. Have an existing business or willing to invest in agency business.
  2. Have a Brick & Mortar/Immovable retail shop e.g. Pharmacy Pop & Mom Shop located in high foot traffic.
  3. Viable means of identification (National ID, Driver’s License, International passport or Voters card).

Is Zambia mobile money business profitable?

How Profitable is Mobile Money Business in Zambia? Mobile money business is profitable in Zambia because of high penetration rate of mobile telecommunication. There are about 96.41 mobile subscriptions for every 100 people in 2019. The number of people with bank accounts in the country is less than 40%.

How do I register for MoMo pay?

Register On MoMo

  1. Using MTN Mobile Money.
  2. In store.
  3. Step 1: Visit your nearest authorized Mobile Money agent.
  4. Step 2:Upgrade your SIM to a Mobile Money-enabled card using a SIM swap.
  5. Step 3: The agent will take you through the registration process.

How can I make money in Ghana?

Here are some of the most common ways in which lots of people from Ghana could earn money online.

  1. Start A Blog. …
  2. YouTube. …
  3. Sell Your Own Stuff. …
  4. Use Existing Websites. …
  5. Freelance Writing. …
  6. Google AdSense. …
  7. Sponsored Posts. …
  8. Consulting.

Who is a MoMo agent?

MoMo is an acronym for Mobile Money. MoMo services allow registered agents to perform transactions for customers. This service allows cash transfers to people who do not have a bank account. Simply put, Agents carry out cash withdrawal for customers without an ATM card or POS machines.

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What is MoMo advance?

What is MoMo Advance? This is a service that allows qualifying MTN Mobile Money customers to complete their transactions when they have insufficient funds in their MTN Mobile Money account.

How does a mobile money work?

How does mobile money work? Mobile money is a service that stores funds in a secure electronic account, linked to a mobile phone number. … The service allows users to store, send, and receive money using their mobile phone. They can buy items in shops or online, pay bills, school fees, and top up mobile airtime.

How can I register for Airtel mobile money?

To register for a mobile money account, visit your local Airtel Money agent with a valid form of identification, such as a Ugandan passport, driver’s licence or government ID. Once you’ve registered for your mobile money account, you can activate Airtel Money by: Dialling *185# Selecting option 1.

How can I open MTN mobile money?

How To Register For MTN Mobile Money Zambia

  1. Go to any MTN shop with your Zambian national registration card (NRC), alternatively you can use a passport or driving license for purposes of identification.
  2. Get photocopy of the same documents to leave behind with the agent for further documentation.


Hai Afrika!