These young people are normally employed by individuals and small and medium enterprises (SMEs) owners who are contracted by Mobile Financial Services (MFS) providers namely MTN Mobile Money, Vodafone Cash, and AirtelTigo Money to transaction financial services to their customers on their behalf.
Due to this symbiotic relationship that exists between the MFS providers and MoMo agents, they earn commissions for their transactions.
These mobile money agents are individuals or businesses contracted by MFS providers to facilitate transactions for their customers.
Cash-in and cash-out that is loading value into the mobile money system, and then converting it back out again, is one of the most important functions of MoMo agents.
Also, they do in many instances register new customers and provide front-line customer service—such as teaching new users how to initiate transactions on their phone.
Additionally, agents conduct other kinds of business in addition to mobile money including retail of mobile airtime and SIM cards.
Cross-sections of MoMo agents, who spoke to African Eye Report, narrated that making a living would have been difficult without the momo business