The Mobile Money Advocacy Group Ghana (MoMAG) has clarified that the government has no involvement in MTN Ghana’s proposed 0.75 percent transfer fee on Mobile Money (MoMo) wallet-to-bank transactions.
According to MoMAG’s Executive Member in charge of Operations, Research, and Implementation, Stephen Quarcoo, the proposed charge is a business decision by MTN and should not be linked to the government or any new tax policy. He stressed that the fee is not related to the controversial Electronic Transfer Levy (E-Levy) previously introduced by the government.
The clarification follows public backlash after MTN Ghana announced that, effective June 1, 2026, transfers from MoMo wallets to bank accounts would attract a 0.75 percent fee per transaction, capped at GH¢5. The telecom company explained that the charge was intended to support improvements in service delivery.
However, the proposed fee generated widespread criticism from customers, political figures, and consumer advocacy groups, many of whom described it as an additional burden on digital financial transactions.
In response to the growing concerns, the Bank of Ghana directed Mobile Money Fintech Limited (MMFL), MTN’s mobile money subsidiary, to suspend the implementation of the fee pending further consultations with stakeholders.
The central bank stated that the suspension forms part of efforts to ensure fairness, transparency, and consumer protection within Ghana’s digital financial ecosystem. For now, wallet-to-bank transfers remain unaffected until a final decision is reached following stakeholder engagements.
The debate surrounding the proposed fee has reignited discussions about the cost of digital financial services in Ghana and the need to balance innovation, business sustainability, and consumer welfare.
