The suspension of the proposed 0.75% fee on direct wallet-to-bank transfers by the Bank of Ghana has triggered renewed debate about how mobile money pricing is regulated in a country where digital payments have become deeply embedded in everyday life.
At the centre of the discussion is the growing dominance of mobile money, particularly MTN Mobile Money, which has evolved from a convenience tool into a core pillar of Ghana’s financial inclusion strategy.
For millions of people, it is no longer just a payment option but the primary gateway to saving, transferring, and receiving money.
In a statement welcoming the BoG’s decisive intervention to suspend the move, CUTS International cautioned that any adjustments to mobile money fee structures must be approached with caution, transparency, and a clear focus on consumer protection.
According to the West Africa Regional Direction of the public policy think tank, Appiah Kusi Adomako, mobile money’s deep integration into daily economic activity means that even small changes in pricing can have wide-reaching effects on households, small businesses, and the broader financial ecosystem.
“Mobile money has come to stay. It is central to our financial inclusion story and the daily lives of millions of Ghanaians,” he noted.
He further urged that MTN Mobile Financial Services Limited (MMFL) actively engage regulators, consumer groups, and the public during the consultation process before any future fee adjustments are implemented.
The organisation argues that meaningful stakeholder engagement is essential to ensuring that pricing decisions are not only commercially sustainable but also socially fair.
“Any changes to its fee structure must therefore be handled with the utmost care, transparency, and respect for the consumer. We call on MMFL to engage meaningfully with regulators, consumer advocates, and the public during the consultation period to arrive at a fair and sustainable outcome,” the consumer protection advocate added.
The call comes at a time when mobile money usage continues to expand rapidly, driven by increased digital adoption, merchant payments, and the growing interoperability between bank accounts and mobile wallets.
This integration has helped reduce pressure on traditional banking halls, lowered transaction costs for many users, and extended financial services to previously unbanked populations.
However, consumer advocates warn that without careful oversight, new charges could erode some of the gains made in financial inclusion, particularly among low-income users who rely heavily on small-value, high-frequency transactions.
