Accra, Ghana – The Bank of Ghana (BoG) has stepped in to suspend a proposed 0.75% wallet-to-bank transfer fee by Mobile Money Fintech Limited (MMFL), the operator of MTN Mobile Money (MoMo). The fee, slated to be implemented on June 1, 2026, has been put on hold pending further consultations, following swift action by the central bank to protect consumers.
Regulatory Intervention Praised
CUTS International Accra, a public policy think tank, has lauded the BoG for its prompt intervention. Appiah Kusi Adomako, West Africa Regional Director of CUTS International, stated that the regulator’s action demonstrates proactive oversight, fostering public trust in the financial system.
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