Public policy think tank CUTS International Accra has commended the Bank of Ghana (BoG) for its swift intervention in suspending a proposed 0.75 percent wallet-to-bank transfer fee by Mobile Money Fintech Limited (MMFL), the operator of MTN Mobile Money (MoMo).
The fee, which was slated to begin on June 1, 2026, has been put on hold to allow for further consultation.
Appiah Kusi Adomako, the West Africa Regional Director of CUTS International, Accra, stated: “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. 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.”
While CUTS clarified that it does not oppose MMFL’s right to adjust fees for business sustainability in a competitive market, it maintained that price adjustments must comply with regulations and remain fair to the public.
Because MMFL controls roughly 75 percent of Ghana’s mobile money market, the think tank identified it as a dominant player with significant market power. CUTS noted that while market dominance is not illegal, abusing that position is prohibited.
“Giving consumers barely one week’s notice about such a significant new charge is, in our view, a textbook example of the kind of conduct that constitutes an abuse of dominance. It is not just a matter of inconvenience; it is a fundamental breach of the principle of fair notice. Consumers deserve adequate time to understand a change, assess its implications, and make an informed choice about whether to continue with a provider or switch to an alternative,” Mr. Adomako said.
The think tank argued that a seven-day notice period violates the doctrine of fair notice, which is a core tenet of consumer protection. It stated that a reasonable notice window is necessary so dissatisfied users can exercise their right to switch to competing services like Telecel Cash or AT Cash, a choice effectively denied by the short timeline.
Highlighting mobile money as a vital tool for financial inclusion in Ghana, the organization noted that wallet-to-bank transfers have reduced banking hall congestion, cut transaction costs, and integrated unbanked citizens into the formal economy.
“Mobile money has come to stay. It is central to our financial inclusion story and the daily lives of millions of Ghanaians. 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 statement added.