The Bank of Ghana has ordered a halt to a proposed 0.75 percent fee on mobile money transfers to bank accounts, after the charge sparked widespread public anger.
The Bank of Ghana (BoG) directed Mobile Money Fintech Limited (MMFL), the mobile money arm recently carved out of MTN Ghana, to pause the charge pending further consultation. MMFL had told customers on May 25 that wallet-to-bank transfers would attract the fee, capped at five cedis per transaction, from June 1. The central bank issued its directive a day later, saying any changes to charges must be introduced fairly and “protect consumers, and support their financial well-being.”
The reversal lands in a sensitive debate over the cost of digital payments. Mobile money has pulled millions of previously unbanked Ghanaians into the financial system, and wallets now handle everything from utility bills and school fees to salaries and trade. Ghana counted 26.7 million active wallets in 2025, up about 14 percent on the year.
Financial inclusion experts say even small fees shape behaviour. Low-income users often respond by making fewer, larger transfers or keeping cash for minor purchases, which can slow the shift away from notes and coins. Small and medium-sized enterprises (SMEs) feel it too, with some merchants steering customers toward cash, setting minimum amounts for mobile payments or passing charges on.
Operators counter that fees fund the agent networks, cybersecurity and infrastructure that keep the system running, and that digital payments still beat cash on security, speed and record keeping. The tension echoes the backlash that met the Electronic Transfer Levy (E-levy), introduced at 1.5 percent in 2022 and later trimmed to 1 percent.
Analysts suggest lower charges on small transactions and stronger competition could widen adoption without starving providers of revenue. For now, the affordability question remains central to how quickly Ghana moves toward a cash-lite economy.
