Consumer protection and competition policy think tank, CUTS International, has commended the Bank of Ghana (BoG) for what it describes as a swift and decisive intervention to suspend the proposed 0.75% charge on direct wallet-to-bank transfers announced by Mobile Money Fintech Limited (MMFL), operators of MTN Mobile Money.
The proposed fee, which was scheduled to take effect on June 1, 2026, was put on hold by the Bank of Ghana, pending further consultations, triggering widespread temporary relief among subscribers.
In a statement reacting to the development, West Africa Regional Director of CUTS International, Appiah Kusi Adomako, praised the Bank of Ghana for stepping in quickly to protect consumers and maintain confidence in the financial system.
According to the lawyer and the consumer protection advocate, the central bank’s swift intervention sends a strong signal that changes to charges within the mobile money ecosystem cannot be introduced arbitrarily, but must comply with regulatory requirements and broader consumer protection principles.
“We applaud the Bank of Ghana for acting swiftly to protect consumers. This is exactly the kind of proactive regulatory oversight that builds public trust in our financial system,” Lawyer Appiah Kusi Adomako indicated.
He continued, “The regulator has sent a clear signal that changes to charges in the mobile money ecosystem must be introduced fairly, transparently, and in a manner consistent with the law.”
MTN MoMo’s announcement generated wide public attention. Many users expressed concerns that the new fee could increase the cost of digital transactions at a time when mobile money has become deeply integrated into daily economic life for millions of Ghanaians.
For traders, small businesses, salaried workers, students, and informal sector operators, mobile money has become a central part of how people save, transact, move business capital, and manage household finances. That is why the proposed fee quickly sparked concerns over affordability, financial inclusion, and the growing cost of digital finance.
However, while applauding the suspension, CUTS International clarified that it does not fundamentally oppose MMFL’s right to review or adjust its pricing structure. According to the policy advocacy organization, businesses operating within competitive markets are entitled to price services in ways that ensure long-term sustainability and operational viability.
Its main concern, however, is that any such adjustments must be introduced fairly, transparently, and strictly within the applicable legal and regulatory framework.
