The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75 per cent charge on direct wallet-to-bank transfers, offering temporary relief to millions of mobile money users across the country.
The fee, which was expected to take effect from June 1, 2026, would have applied to transfers from mobile money wallets to bank accounts. However, the central bank says the charge has now been placed on hold to allow for further stakeholder engagement and consultations.
In a statement issued on Tuesday May 26, the Bank of Ghana said the decision was taken to ensure that any adjustments to charges within the mobile money ecosystem are done in a way that protects consumers and promotes fairness.
“The Bank of Ghana informs the public that Mobile Money Fintech Limited (MMFL) has been directed to pause the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers,” portions of the statement said.
According to the central bank, the suspension will create room for broader discussions on the potential impact of the fee on mobile money users, businesses and financial inclusion efforts.
“The fee was scheduled to take effect on 1 June 2026 but is now on hold to allow for further consultation,” the statement added.
The BoG further stressed that it remains committed to safeguarding the interests of consumers while maintaining confidence in Ghana’s growing digital payments ecosystem.
“This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing,” the statement noted.
