The Bank of Ghana (BoG) has instructed Mobile Money Fintech Limited (MMFL) to suspend the planned implementation of a 0.75 percent charge on wallet-to-bank transfers.
The fee was initially expected to take effect on June 1, 2026, but has now been placed on hold as the central bank engages stakeholders for further discussions on the proposal.
The decision by the central bank comes amid growing public attention over the intended charge, which many mobile money users feared could increase the cost of digital transactions.
According to the central bank, the suspension demonstrates its commitment to maintaining fairness, protecting consumers, and ensuring that any adjustments within the digital financial ecosystem are carefully considered before implementation.
The central bank explained that consultations are still ongoing with key players in the financial services sector, including mobile money operators, banks, fintech companies, and other stakeholders.
These engagements are expected to help determine the potential impact of the proposed fee on financial inclusion, transaction costs, and customer convenience.
Earlier, MTN Ghana had informed customers about plans to introduce the charge on transfers from mobile money wallets to bank accounts. Under the proposal, customers would have paid a 0.75 percent fee per transaction, subject to a maximum charge of GH¢5.
The announcement generated mixed reactions among users and industry observers, with concerns that the additional cost could discourage the use of mobile money services and slow Ghana’s progress toward a cash-lite economy.
Mobile money remains one of the country’s most widely used digital financial tools, supporting millions of transactions daily for payments, transfers, savings, and business activities.
