ACCRA, May 27 – Ghana’s central bank has suspended a proposed transfer fee by MTN Ghana’s mobile money business, stopping the charge just days before it was due to begin on June 1.
In a statement released Tuesday, the Bank of Ghana said it had directed Mobile Money Fintech Limited (MMFL), MTN Ghana’s newly separated fintech unit, to pause plans to introduce a 0.75% fee on transfers from mobile wallets to bank accounts with the regulator saying that further consultations with industry players would take place before any final decision is made.
The move comes about two months after MTN Group completed the separation of its Ghana mobile money business into MMFL as part of a wider push to grow its fintech operations and attract potential investors.
Ghana remains one of MTN’s biggest mobile money markets. The telecom company generated about $549.15 million in revenue from the country in 2025, while mobile money continues to play a major role in daily payments and transfers.
According to central bank data, mobile money transactions in Ghana rose by 58.3% last year to GH¢518.4 billion as transaction volumes also climbed to 982 million from 745 million a year earlier. Wallet-to-bank transfers accounted for around 7% of the total transaction value, while agent-to-agent transfers remained the largest segment of the market.
The sector has also continued to expand, with active mobile money wallets rising to 26.7 million in 2025. The number of registered mobile money agents also increased to about 491,000.
The suspension highlights growing regulatory attention on digital financial services in Ghana, especially after the backlash that followed the introduction of the Electronic Transfer Levy in 2022.
MTN competes with Vodafone Cash and AirtelTigo Money in one of Africa’s busiest mobile money markets.
