CUTS International has commended the Bank of Ghana for suspending a proposed 0.75 percent wallet-to-bank transfer fee announced by Mobile Money Fintech Limited (MMFL), the operator of MTN Mobile Money.
The fee, which was scheduled to take effect on June 1, 2026, has been placed on hold pending further consultations.
In a statement, the West Africa Regional Director of CUTS International, Accra, Appiah Kusi Adomako, praised the central bank’s intervention, describing it as a timely move that strengthens consumer protection and public trust in the 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. 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,” he said.
CUTS noted that it does not oppose, in principle, MMFL’s right to review and adjust its fees, stressing that businesses in competitive markets have a legitimate interest in pricing their services sustainably.
However, it emphasized that any such adjustments must comply strictly with regulatory requirements and uphold fairness to consumers.
On market structure, CUTS said MMFL, which it estimates controls about 75 percent of Ghana’s mobile money market, is a dominant player, adding that competition law does not prohibit dominance but rather the abuse of it.
According to Adomako, the short notice period for the fee change raised serious concerns.
“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,” he said.
CUTS further argued that a seven-day notice period was insufficient, describing fair notice as a core principle of consumer protection and ethical business practice.
It added that adequate notice allows consumers to compare alternatives such as Telecel Cash or AT Cash and make informed decisions.
The organisation also highlighted the importance of mobile money in Ghana’s financial inclusion agenda, noting its role in expanding access to financial services, reducing congestion in banks, and lowering transaction costs.
“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.
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