CUTS International Accra has commended the Bank of Ghana (BoG) for its swift intervention in suspending the proposed 0.75% wallet-to-bank transfer fee introduced by Mobile Money Fintech Limited (MMFL), operators of MTN Mobile Money.
The fee, which was expected to take effect on June 1, 2026, has been put on hold pending further stakeholder consultations.
Speaking on the development, the West Africa Regional Director of CUTS International Accra, Appiah Kusi Adomako, said the regulator’s action demonstrates strong consumer protection and reinforces trust in Ghana’s financial system.
“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,” he said. “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.”
CUTS noted that while it does not oppose MMFL’s right to review its fees, such adjustments must comply with regulatory standards and ensure fairness to consumers.
The policy think tank cautioned that MMFL’s dominant position in the mobile money sector—estimated at about 75 percent market share—places a greater responsibility on the company to avoid practices that could disadvantage consumers.
It argued that competition law prohibits the abuse of dominance, not dominance itself, and warned that short notice periods for fee adjustments could undermine consumer rights.
“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,” Mr. Adomako stated.
He added that such actions deny consumers adequate time to assess changes and make informed decisions about alternative service providers.
CUTS also stressed the importance of fair notice in consumer protection, describing it as a core principle of ethical business practice. It argued that a seven-day notice period was insufficient for a major pricing change of this nature.
According to the organisation, adequate notice allows consumers to explore alternatives such as Telecel Cash and AT Cash where necessary.
The group further highlighted the importance of mobile money in Ghana’s financial inclusion agenda, noting that the service has transformed access to financial services for millions of citizens.
It urged Mobile Money Fintech Limited to engage meaningfully with regulators, consumer advocates, and the public during the consultation period to reach a fair and sustainable outcome.
“Mobile money has come to stay. It is central to our financial inclusion story and the daily lives of millions of Ghanaians,” the statement added.
Press Release_CUTS Lauds BOG on Suspension of Proposed MTN New Charges
