The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend its proposed 0.75 percent fee on direct wallet-to-bank transfers, which was originally scheduled to take effect on June 1, 2026.
The regulatory intervention puts the implementation on hold indefinitely to allow for broader stakeholder engagement.
According to the central bank, the directive is necessary to ensure that any adjustments to transaction costs within the digital financial ecosystem undergo thorough evaluation before enforcement.
In a public statement confirming the suspension, the central bank emphasized its regulatory oversight over consumer pricing within the electronic payment sector.
The apex bank noted that the decision reflects a broader strategy to maintain equity and transparency for everyday users of mobile financial platforms.
“This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing,” the Communications Department of the Bank of Ghana stated.
The suspension halts MMFL’s immediate plans to monetize direct wallet-to-bank transactions, forcing the fintech operator back to the negotiation table.
Further timelines regarding the conclusion of the consultative review have not yet been disclosed by the regulator.
By: Rainbowradioonline.com/Ghana
