The Bank of Ghana has stepped in to suspend a planned 0.75% fee on direct wallet-to-bank transfers proposed by Mobile Money Fintech Limited (MMFL), following growing public concern over the potential impact on digital financial transactions.
The proposed charge, which was expected to take effect on June 1, 2026, would have applied to transfers from mobile money wallets directly into bank accounts. However, the central bank says implementation has been put on hold pending further stakeholder consultations.
In a statement issued on Tuesday, May 26, the Bank of Ghana said the suspension forms part of efforts to protect consumers and maintain fairness within Ghana’s expanding mobile financial services sector.
“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 central bank stated.
The proposed fee had triggered widespread discussion among mobile money users, fintech observers, and business operators, many of whom feared the additional charge could discourage digital transactions and undermine financial inclusion efforts.
Industry analysts say the decision by the central bank signals increased regulatory attention on pricing within the fintech and mobile money ecosystem, particularly at a time when digital payment adoption continues to grow rapidly across the country.
The Bank of Ghana did not indicate when consultations with stakeholders would conclude or whether the proposed fee would eventually be modified, approved, or permanently withdrawn.
