The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of a proposed 0.75% fee on direct wallet-to-bank transfers, delaying a measure that had been scheduled to take effect on 1 June.

In a statement issued on Tuesday (26 May), the central bank said the decision was intended to allow for further stakeholder consultations before any changes are introduced within the mobile financial services ecosystem.

“The Bank of Ghana informs the public that Mobile Money Fintech Limited has been directed to pause the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers,” the statement said.

According to the central bank, the temporary suspension reflects efforts to ensure that any adjustments to charges within the mobile money sector are implemented in a manner that safeguards consumer interests and promotes financial inclusion.

“This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing,” the statement added.

The proposed charge had sparked concerns among sections of the public and mobile money users, with critics raising questions about the potential impact on transaction costs and digital financial access.

Mobile money services have become a critical part of Ghana’s financial system, providing millions of users with access to payments, savings and transfers, particularly among populations with limited access to traditional banking services.

The latest intervention by the central bank comes as authorities continue efforts to balance innovation and expansion in digital finance with consumer protection and affordability concerns.

It remains unclear when consultations on the proposed charge will be concluded or whether the fee will eventually be implemented in its current form.