CUTS International Accra, a public policy think tank focused on consumer protection and competition advocacy, has praised the Bank of Ghana (BoG) for its swift decision to suspend a proposed 0.75% wallet-to-bank transfer fee announced by Mobile Money Fintech Limited (MMFL), operators of MTN Mobile Money.
The fee, which was originally set to take effect on June 1, 2026, has now been put on hold pending further consultations.
Commenting on the development, the West Africa Regional Director of CUTS International Accra, Appiah Kusi Adomako, said the regulator’s intervention was a welcome step in protecting consumers and strengthening confidence in Ghana’s financial system.
He noted that the BoG’s action reflects the kind of proactive oversight needed to ensure that changes in the mobile money ecosystem are introduced fairly, transparently and in line with established regulations.
CUTS emphasized that it is not opposed in principle to MMFL’s decision to review its charges, noting that businesses in competitive markets have a right to adjust pricing to ensure sustainability. However, it stressed that such adjustments must comply with regulatory requirements and remain fair to consumers.
Market dominance and regulatory responsibility
The organisation noted that MMFL controls about 75% of Ghana’s mobile money market, describing it as a dominant player with significant market power.
While competition law does not prohibit dominance, CUTS explained that it does prohibit the abuse of such a position, particularly where consumers may be disadvantaged.
According to Mr. Adomako, giving customers only a short notice period for a major pricing change raises serious concerns.
“Giving consumers barely one week’s notice about such a significant new charge is, in our view, a textbook example of abuse of dominance. It goes beyond inconvenience and amounts to a denial of fair notice. Consumers need enough time to understand changes, assess their impact, and decide whether to remain with a provider or switch to alternatives,” he said.
Fair notice and consumer rights
CUTS also argued that a seven-day notice period was insufficient for a change of that scale, stressing that fair notice is a key principle of consumer protection and ethical business practice.
It explained that adequate notice allows consumers to make informed choices and, if necessary, switch to competing services such as Telecel Cash or AT Cash. A short notice period, it said, undermines this right.
Mobile money and financial inclusion
The think tank further highlighted the central role of mobile money in Ghana’s financial inclusion agenda, noting that it has transformed access to financial services across the country.
It said the platform has helped reduce pressure on banks, lower transaction costs, extend financial services to unbanked populations and improve participation in the formal economy.
“Mobile money has come to stay. It is central to our financial inclusion story and the daily lives of millions of Ghanaians,” the statement noted.
CUTS called on MMFL to engage constructively with regulators, consumer groups and the public during the ongoing consultation process to ensure a fair and sustainable outcome for all stakeholders.