What Is MTN Ghana Mobile Money All About and How Do I Register?

Known colloquially as MoMo, MTN Ghana Mobile Money is the telecommunication company’s answer to providing access to quality banking to more Ghanaians. Since MTN started the service, it has quickly become one of the country’s top mobile money services, dominating others like Vodafone Cash and AirtelTigo Money.

According to a 2019 report by the World Bank, Ghana has become the fastest-growing mobile money market in Africa. MTN Ghana Mobile Money has been leading the charge, with more than 90% of the country’s mobile money transactions by 2019.

MTN Ghana Mobile Money Was Launched in July 2009

At the end of July 2009, MTN Ghana launched its mobile money service. The service allows wallet holders to store funds, make payments, send and receive money, and other forms of transactions. However, instead of traditional bank accounts, it stores funds in a secure electronic account. Users also only need a mobile phone and registered number to access it.

The first few months of its launch recorded more than 20,000 users and over 1,200 mobile money authorized merchants around the country. It was also launched with nine partner banks. About a decade later, the service has more than 13 million users, over ten partner banks, and has launched a dedicated service for merchants, with MoMo pay.

MTN Ghana launched MoMo Pay, its mobile money merchant payment service, in January 2017. It launched the service to increase mobile money use in markets and drive financial inclusion for millions of unbanked citizens in the country.

The Main Uses of MTN Ghana Mobile Money

There are so many benefits to using MTN Ghana Mobile Money, including being open to everyone for use. Everybody and anybody can use the mobile money service, however, the degree of usage you get out of it depends on the kind of user you are.

There are three primary users of MTN Ghana Mobile Money: Personal, Agent, and Merchants.

Personal users

Most people are Personal users, and they can use the service for a range of transactions like:

  • Send and Receive Money (home and abroad)
  • Top-up MTN Airtime
  • Pay Bills (DStv, ECG Postpaid, MTN Postpaid, School fees, and more)
  • Buy & Pay for Insurance
  • Buy Airline tickets and treasury bills
  • Pay employee salaries and other goods and services

Agent Users

Registered agents can also make money with the service. Those who register as agents, i.e., brick and mortar outlets under the service, can earn commission on transactions by personal users.

For cash withdrawals:

  • Between 1 and 50 GHC, agents make 0.50 GHC on every transaction.
  • For 50 GHC and more, agents make 1% on every transacted value

For Sending:

  • GHC 1 – GHC 50, 2.50 GHC per transaction
  • GHC 50 and more, 5% of the transaction value

Merchant Users

Those who have businesses and services can also use mobile money to make payments easier. Businesses like auto-parts shop, bars, cinemas, clinics/hospitals, boutiques, barbershops, transport vehicles, supermarkets, and many more, can use MTN Ghana Mobile Money to receive payment for goods and services rendered.

Using dedicated QR codes placed at the point-of-sale, customers can transact with merchants, freeing both parties from the risk of cash.

How to Register on MTN Ghana Mobile Money?

MTN Ghana Mobile Money
MTN Mobile Money Agent stand: image source

As the goal of the service itself, registering for MTN Ghana’s mobile money is easy. However, depending on the user you want to be, there are different requirements and available registration methods.

For Personal Use

There are two available options if you intend to register a mobile money account for personal and regular use. You can register online by visiting the MTN mobile money website or visit an authorized MTN merchant or service centre near you. If you are visiting a merchant, you will need one of these –

  • National ID Card
  • Voter ID or Drivers’ License
  • Passport

Once you have this, visit the nearest MTN service centre with a photocopy of your ID and your mobile phone. Then:

  • Give the photocopy of your ID to the agent to capture your details.
  • MTN system will generate a one-time code and send it to your phone. The one-time code will be used to login into the account.
  • After you get access to your account, you will be required to change the one-time code (OTC) sent to your phone into a pin code, which you will use as your security pin.
  • You can then complete the registration by following the easy final steps.

To Register as an Agent

If you want to be a MoMo agent, you will need a lot more than a valid sim and your photo ID. MoMo agents are required to have a registered Limited company or its equivalent with existing outlets ready for use. As a result, to become an MTN Ghana Mobile Money agent, you will need:

  • Business Registration Certificate
  • Permanent or Semi-permanent spot for an Agent outlet (no wooden or umbrella structures)
  • A valid national photo ID
  • Startup capital of GHC 4,000

Once you have all of these, you can either visit an MTN service centre to fill the necessary documentation or download it from the website, fill and submit accordingly. The necessary forms are:

  • Agents Recruitment Form
  • Agent Account Handler Form
  • Agent/Merchant Code of Ethics
  • Agent Agreement

Applications will take approximately 23 working days from the date the application is received. Successful applicants will be notified via email or phone.

To Become a MoMo Merchant

In order to become a MoMo merchant, you should follow the simple steps:

  • Dial *5051#
  • Select Register
  • Select the Region
  • After you complete the registration, you should receive an SMS with a reference number
  • Afterwards, an MTN MoMo agent will come over to inspect your location

If you pass the inspection, you must fill the following documents:

  • Merchant Agreement
  • Merchant Account Handler Form
  • Merchant Recruitment Form

After filling the form and your details are verified to be accurate, you wait 72 hours from the time of completion, and your merchant sim should be ready.

How to Fund Your Mobile Money Account

There are a few ways you can use to fund your MTN Ghana Mobile Money account. They are:

  • Dialling *120*151#
  • Using your bank card
  • The MTN Ghana Momo App via your bank account
  • Through a MoMo agent
  • Visit any MTN store

You should note that a MoMo agent might charge a commission but funding through electronic payment is free.

Adeola Seun
Adeola Seun
I am a writer who is inspired daily to seek out knowledge and hidden gems, wherever it resides, with the aim of bringing to the limelight, the resources, talents, capabilities, and ideas that abound in this great continent.


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