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The necessary things one would need to get started with a mobile money business and also as a registered member of AMMBAN.

No matter how small you want to start, you will need startup capital. Cash/float is the most important factor to being an agent. Everything an agent does revolves around cash. So in starting up your agency business, ensure you factor in cash. In fact, the more cash you have dedicated to your business, the more customers you can serve and the more profit you can make.

Part-time or full time agents will need a tab or laptop Most Solutions for banks and Operators are accessible only through web and app channels. So an agent must ensure that a good laptop or Tab is available and dedicated strictly for the business.

Part-time or full time agents will need a calculator Calculator is a useful tool for any business. In agency business, a calculator comes in handy at the point of balancing your account and closing your business for the day.

No matter how small you want to start, you will need to maintain a log book A log book is a core requirement mandated by the CBN. All agents are mandatorily expected to fill and update their log books at all times. Some agents are currently in police net for issues around failure of agents to capture transactions they carried out in their log book.

Part-time or full time agents will need a Mercury Light device Mercury light is a special blue ray light bulb used in identifying counterfeit currency. All agents are strongly advised to get mercury light in their outlet.

Full time (Mega) agents will need a counting machine The counting machine enables agents to effectively count cash and attend to more customers in good time.

Part-time or full time agents will need a POS. POS is a core requirement and very important tool an agent needs to effectively carry out agent services. Please note that you can commence an agency business without a POS, however as your business grows, it will be required to complement your business.

No matter how small you want to start, it is advisable you get insurance. Insurance is important because as an agent you deal in cash everyday. So insuring your business assets, especially cash- in-hand and cash-in-transit will protect you from the risk of exposure that comes with cash handling. Cash-in-transit means when you are taking cash to your bank for rebalancing or when you are going to fund other outlets.

Part-time or full time agents will need a signage or branding You need good, clear and bold signages so that people can easily see and identify your location from far distance.

No matter how small you want to start, it is advisable you get receipts you can issue to customers. It is very important to issue receipts for every transaction you do. Thankfully most POSs have inbuilt printers that print out receipt of all POS transactions -  both successful and declined transactions. Agents are expected to issue receipts and document all non-POS transactions as well, for reference.

Bulk SMS services help you reach out to your customer base from time to time. It also enables you to advertise new products/prices and you can send special messages during festive seasons to your customers.

If you are a part-time or full time agent, as you grow big, it is advisable you get CCTV CCTV cameras are surveillance security cameras that help record activities within and around your business space. It is very necessary for security reasons

This is very useful for Part-time or full time agents using brick and mortar locations. Agents are expected to ensure that space where the cashier stays to count money and process transactions is secured and not easily accessible by strangers/outsiders. This is your first line of security as an agent.  

This is important for Part-time or full time agents. A vault is like a safe, where money and other valuables can be kept. This is very important because of the valuables you work with on a daily basis. Cash, POS, Tabs, Laptops and other valuables can be kept in a vault for safe keeping.

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