The Bank of Ghana has reportedly suspended the controversial 0.75% charge on transfers from mobile money wallets to bank accounts, a policy that sparked widespread public criticism across the country.
The proposed fee, which was expected to take effect from June 1, 2026, would have charged customers 0.75% on every MoMo-to-bank transfer, with a maximum deduction capped at GH¢5 per transaction.
Notices announcing the new charges were circulated by telecom operators, particularly MTN Ghana, and quickly triggered heated reactions on social media.
Many Ghanaians compared the proposed deduction to the controversial Electronic Transfer Levy (E-Levy), which had previously generated nationwide debate before its eventual removal. Social media users argued that the new charge would place additional financial pressure on mobile money users already dealing with the high cost of living.
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Following the backlash, reports emerged indicating that the central bank had halted the implementation of the policy pending further consultations and review. However, as of now, the bog.gov.gh has not yet published a formal detailed statement on its official website specifically confirming the suspension of the 0.75% levy.
The development has nevertheless brought relief to many mobile money users, particularly small business operators and traders who rely heavily on MoMo transactions for daily business activities.
Analysts say the strong public reaction demonstrates the continued sensitivity surrounding electronic transaction charges in Ghana.
The proposed fee would have affected transfers from mobile money wallets to bank accounts only and was not initially described as a government tax. Telecom messages indicated that the deduction would be applied automatically beginning June 1 if implemented.