In the bustling corners of rural Ghana, where banks are few and far between, mobile money (MoMo) agents have quietly become the lifeblood of local economies, moving cash, enabling trade, and keeping communities connected to the formal financial system.
But as their role grows, so do their risks. Armed robbery, fraud, and cash-handling losses have turned what was once a simple business into a daily gamble. Now, a new wave of financial protection is beginning to change that reality signalling a major shift in how rural entrepreneurship is being secured and sustained.
Insurance Meets Informal Finance
According to Mr. Paul Ampedu-Yeboah, Assistant General Manager for Informal and SME Business at Enterprise Insurance, the company’s recent interventions are aimed at transforming the way mobile money agents manage business risk.
He said that mobile money agents “have become trusted contact points in their various communities offering cash withdrawals, parcel pickups, and even small-scale financial advice.”
“If these agents are so widely trusted and distributed, then protecting them is not just an insurance matter it’s an economic stability issue,” Mr. Ampedu-Yeboah said.
Through products like MoMo Insure, Enterprise Insurance is helping agents hedge against the dangers of theft, accidents, and business interruptions.
The cover includes protection for accidental death, permanent disability, and cash-in-transit giving thousands of agents peace of mind in a high-risk occupation.
The Changing Face of Rural Entrepreneurship
For many rural agents, mobile money work has become more than a business, it’s a social service. Agents are often the first point of access for remittances, school fees, and emergency funds. Yet few have had any safety net.
Industry observers note that extending insurance and digital financial tools to such operators is redefining what it means to be a “micro-entrepreneur” in Ghana. It bridges the gap between the informal and formal economy, empowering small operators to stay resilient even in unpredictable conditions.
Mr. Ampedu-Yeboah added that Enterprise Insurance’s new model now allows MoMo agents to double as micro-insurance representatives, expanding their income streams while deepening insurance penetration in underserved communities.
“Insurance is going digital, but people still need the human touch,” he explained. “Mobile money agents are already embedded in communities. By training them to sell or renew insurance digitally, we’re giving them an extra line of business while making financial protection more accessible to ordinary Ghanaians.”
Security Meets Sustainability
The move comes amid growing calls from the Mobile Money Advocacy Group (MoMAG) for stronger protection and financial support for its members, many of whom have suffered heavy losses from robbery and fraud.
MoMAG President Mr. Edward Ofori Agyemang outlined plans for a Robbery Support System, offering interest-free emergency loans to agents hit by crime, and a future MoMAG-owned microcredit scheme to boost financial resilience among members.
“With unity, resilience, and purpose, we can secure our livelihoods and serve our communities better,” he said.
A New Blueprint for Financial Inclusion
Experts say Ghana’s approach, blending insurance, digital finance, and grassroots entrepreneurship could serve as a model for other African economies seeking to formalize and protect informal workers.
For now, thousands of mobile money agents across Ghana are not just transferring cash but they are building a new kind of financial infrastructure from the ground up, one powered by trust, technology, and now, protection.
