Mobile Money Fintech Limited (MMFL) has been instructed by the Bank of Ghana (BoG) to halt the implementation of its proposed 0.75% fee on direct wallet-to-bank transfers while more discussions are conducted.
The proposed fee, which was supposed to go into effect on June 1, 2026, has been postponed to give more time for stakeholder study and involvement.
Concerns about the wallet-to-bank transfer fee’s possible effects on digital transactions and financial inclusion sparked public debate when MMFL announced it.
The central bank stated in a news release on Tuesday, May 26, 2026, that the decision was made as part of efforts to protect consumers and guarantee fairness in the mobile financial services 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 said.
The Bank of Ghana did not specify when the consultations would end or if the planned fee would ultimately be changed or eliminated.
Source: newsthemegh.com