By Kwame Atoampomah Koduah Atuahene
The upsurge of Mobile Money Merchants (MoMo Merchants) has been hailed for creating opportunities for inclusion and payment by the unbanked. It has also offered job opportunities for many otherwise unemployed youths in the country.
It is estimated that, as of March this year, there were nearly 218,000 registered mobile merchants across the country with 11.2 million active mobile accounts.
Regardless of the numbers of persons involved and volumes of transfers facilitated by these merchants, they appear to have been left to the mercy of miscreants and robbers.
A recent report estimated the number of attacks on these merchants at 30 at the turn of the new year. Just today, the dailies report of the death of a 39-year old Promise Dayi, a MoMo merchant at Asylum Down in Accra, who is suspected to have been shot by armed robbers.
If robbers cannot walk to a banking hall to shoot a teller, why must we allow that to happen to these vulnerable vendors.
We cannot continue to be only interested in the service they offer, income and profits to the telecos, revenues for the state without any measure of care for the risk they are exposed to. If care is not taken, this threat though personal to the merchants will consequently affect other interested parties. They may seek opportunities elsewhere, the service will become defunct and ultimate deny us of the collective benefit we derive from their existence.
Society must take interest in their safety and it must be urgent. In the traditional banking sector, the banks have found a means to partner the security agencies to protect transfers and limit the threat of robbers at the bank and in the course of transfers.
There are positive learnings for MoMo Merchants. The Telecos must urgently, work with these Merchants, the Metropolitan, Municipal, & District Assemblies and the Police to cook a solution.
To start with, the Assemblies, can find and assist with space and designate same as MomoHubs. These hubs, situated at convenient proximity to a bank or police station, could be provided with adequate security under arrangements similar to that with the traditional banks. Armed Police could provide escorts if transfers of physical cash become necessary within banking hours.
Further, the Merchants could be assisted either freely by the Telecos or as part of the start-up conditions to get cash safes to be kept at the custody of the Police Station where cash could be lodged during non-bank hours
Finally, the possibility of Insuring the service and merchants should be explored with the insurance industry. This way we can set minimum conditions for coming into that space, that assures their safety, the growth of the industry other than leaving them to their fate.
If robbers cannot walk into a banking hall to shoot a teller, why must we allow that to happen to these vulnerable vendors
We must not only be interested in their goods but their good.
I rest my case
