How much does it cost to start a mobile business in Ghana?

A merchant SIM is free so apply for one and load it with Ghc2,000.00 e-cash, keep Ghc1,000.00 as physical cash. This sums up to Ghc5,550.00 and you are good to go. Place the container by a busy street, a public place, etc and you can earn at least Ghc20.

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 does one need to start a mobile money business?

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)

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Is mobile money profitable?

First, where demand is high, mobile money can be an attractive business for dedicated agents, with an average profit well in excess of $100 a month according to our sample.

Which business is most profitable in Ghana?

20 Most Profitable Business Ideas in Ghana 2021

  • Poultry Farming.
  • Snail Farming.
  • Vegetable Farming.
  • Uber.
  • Day Care Centre/Basic School.
  • Photography Services.
  • Barbering Saloon.
  • Gym/Fitness Centre.

Can I register MTN mobile money myself?

Log on to MTN Mobile Money official website. Click on “Register”. Enter your username which is your phone number and preferred Mobile Money Pin. … A one-time password will be sent to your phone.

How much do you need to start MTN mobile money?

With Ghc1,500 you can get a mobile money container. Ghc 50.00 will get you a good “yam” phone. Buy Ghc500. 00 worth of MTN recharge Cards, Ghc250.

How can I open MTN mobile money?

To create your free account, you’ll need to visit your local MTN Mobile Money agent and take your MTN SIM card and a valid form of identification such as your driver’s licence or passport. You’ll be asked to fill out a registration form and given a SIM card that is MTN Mobile Money enabled.

How do mobile money agents make money?

The agent earns commission from the deposit, withdrawal, buying airtime and paying bills for the customers. The commission of agents reduced significantly after the introduction of the one percent tax on mobile money withdrawals in July 2018.

How much is an MTN mobile money agent line?

MTN Mobile Money Agents can now get MTN Xtra Float worth UGX 50,000, 100,000 and 250,000 at a fee of UGX 300.

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How does mobile money work in Ghana?

In Ghana, the mobile money wallet is mainly used to transfer value from one person to another person (P2P), for payment of goods and services such as buying airtime, paying for utility bills, Gold and DSTV bills, salaries of some workers, taxi fares, micro-credit, savings and micro-insurance.

What is commission in mobile money?

Since June 2019, a unilateral reduction in commissions relating to transactions via MTN mobile money has been observed. Commissions increased from 1 to 0.7% for deposits, i.e. 70 FCFA for a deposit of 10,000 FCFA and from 0.7 to 0.5% six months later, or 50 FCFA for a deposit of 10,000 FCFA.

How do I become an MTN agent?

How to become a MoMo Agent by Self Onboarding

  1. Dial *502# with your MTN phone number.
  2. You receive a prompt to approve your MTN SIM registration details to be used as your MoMo wallet ID KYC.
  3. Select 1 Yes to accept the T&C and to continue to the next step.
  4. Create your 4 digit PIN as prompted.
  5. Reconfirm your 4 digit PIN.

What do Ghanaians buy most?

Now you know what Ghanaians are spending on, as far as retail consumer goods are concerned; Rice, frozen fish/chicken, edible oil, sugar, confectionaries, canned products, Alcoholic, carbonated, malted and energy drinks, Ceramics, worn clothing, footwear, toiletries, diapers, human hair, glass (polished, engraved).

What can I sell to make money in Ghana?

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

  • Start A Blog. …
  • YouTube. …
  • Sell Your Own Stuff. …
  • Use Existing Websites. …
  • Freelance Writing. …
  • Google AdSense. …
  • Sponsored Posts. …
  • Consulting.
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What is the fastest business to start?

A service business is the fastest type of business to start because you don’t need to do a lot of advance preparation.