The Bank of Ghana suspended a proposed 0.75% fee on mobile money-to-bank transfers by MTN Ghana's fintech unit, stopping the charge before it was set to take effect on June 1.
The central bank said it had directed Mobile Money Fintech Limited, MTN Ghana's mobile money subsidiary, to pause the fee pending further consultations with industry stakeholders. The decision affects one of Ghana's most used digital payment channels, where mobile wallets are part of daily commerce.
The move comes less than 2 months after MTN Group completed the separation of its Ghana mobile money business into Mobile Money Fintech Limited. The restructuring was designed to make fintech a standalone growth business, support payments and lending services, and prepare the unit for possible strategic investment.
Ghana is one of MTN's largest mobile money markets. The country recorded GH¢518.4 billion, or about $44.5 million, in mobile money transactions in 2025, up 58.3% from a year earlier. Transaction volumes rose 38.1% to 982 million, while active mobile money wallets increased 13.6% to 26.7 million.
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The suspended fee highlights the pressure around pricing digital payments in Ghana. Mobile money users have already faced the Electronic Transfer Levy, introduced in 2022 at 1.5% before being cut to 1% in 2023. The central bank said consultations will continue before a final decision is made on MMFL's proposed fee structure.
Key Takeaways
The Bank of Ghana's intervention shows how mobile money has become too important to be treated as a normal fee business. Wallet-to-bank transfers may account for only about 7% of mobile money transaction value, but they connect mobile wallets to the banking system and help users move funds between formal and informal financial channels. A new 0.75% charge could raise revenue for MTN's fintech unit, but it could also increase costs for consumers and small businesses that already pay taxes and charges on electronic transfers. The timing matters because MTN has just separated its Ghana fintech business, making pricing and profitability more visible. Regulators are likely to watch any fee changes that could affect financial inclusion, competition or trust in digital payments. Ghana's mobile money market is large, with 26.7 million active wallets and almost 491,000 active agents, so even small charges can have wide effects. The next decision will show how far the central bank is willing to let fintech operators monetise payment rails while protecting users.
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