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May 26, 2026
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Suspension of proposed 0.75% wallet-to-bank transfer fee pending further consultation
Money
Policy
Growth
Key Points
- The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to pause its proposed 0.75% fee.
- This fee was intended for direct wallet-to-bank transfers.
- The implementation of the fee was originally scheduled for June 1, 2026.
- The suspension is in place to allow for further consultation on the matter.
- The Bank of Ghana's decision aims to ensure fairness, consumer protection, and support for financial well-being.
Why This Matters
Mobile money is a critical component of Ghana's financial landscape, facilitating transactions for millions and driving financial inclusion. Changes to transfer fees directly impact the cost of digital transactions for consumers and businesses nationwide. This decision underscores the Bank of Ghana's role in regulating the digital financial services ecosystem to ensure stability, fairness, and consumer confidence.
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