The Bank of Ghana has directed MTN Ghana to temporarily suspend the recently introduced 0.75 percent charge on wallet-to-bank transfers through its Mobile Money platform, widely known as MoMo.
The directive follows growing public backlash and concerns from customers, businesses, and digital finance users who argued that the new fee would increase the cost of mobile transactions at a time many Ghanaians are already struggling with rising living expenses.
According to sources familiar with the development, the central bank asked MTN MoMo to put the implementation of the fee on hold pending further stakeholder engagement and regulatory review. The suspension is expected to allow authorities to assess the potential impact of the charge on financial inclusion, digital payments, and consumer confidence in mobile money services.
The 0.75 percent fee was expected to apply to transfers made directly from MoMo wallets to bank accounts, a move that triggered widespread criticism across social media and among mobile money agents. Many users questioned why additional charges were being introduced despite existing transaction costs and the government’s push toward a cash-lite economy.
Industry observers say the intervention by the Bank of Ghana highlights the regulator’s increasing attention to consumer protection within the country’s rapidly growing digital finance ecosystem. Mobile money remains one of the most widely used financial services in Ghana, with millions relying on it daily for transfers, savings, bill payments, and business transactions.
While MTN Ghana has yet to issue a detailed public statement on the suspension, customers are expected to continue enjoying wallet-to-bank transfers without the new fee until further notice.
The development has sparked fresh debate about telecom pricing, digital transaction costs, and the balance between innovation, profitability, and affordability in Ghana’s financial technology space.
