The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers, following growing public concern over the planned charge.
The proposed fee, which was expected to take effect from June 1, 2026, would have applied to transfers made directly from mobile money wallets to bank accounts.
However, in a press release issued on Tuesday May 26,2026, the central bank announced that the implementation has been put on hold pending further consultations with stakeholders.
According to the Bank of Ghana, the decision forms part of efforts to ensure that any changes within Ghana’s mobile financial services ecosystem are introduced fairly and in a manner that protects consumers.
“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 said.
The proposed fee had sparked discussions among mobile money users, businesses, and financial sector observers, many of whom raised concerns about the possible impact of additional transaction charges on digital financial services and financial inclusion.
Mobile money services continue to play a significant role in Ghana’s economy, providing millions of users with easy access to financial transactions, savings, and payments.
Wallet-to-bank transfers, in particular, have become increasingly popular among individuals and small businesses due to their convenience and speed.
Industry observers say the suspension is likely to provide relief to customers who feared the additional charge could increase the cost of digital transactions at a time when many people are already facing economic pressures.
The central bank did not indicate when a final decision would be taken on the proposed fee but assured the public that further consultations would be undertaken before any implementation.
CREDIT: Mavis Fantevi
