By Nadia Ntiamoah
CUTS International Accra has commended the Bank of Ghana for intervening to suspend the proposed 0.75 percent wallet-to-bank transfer fee announced by Mobile Money Fintech Limited (MMFL), describing the regulator’s action as a critical step toward protecting consumers and ensuring fairness in the mobile money ecosystem.
The proposed fee, which was scheduled to take effect on June 1, 2026, was put on hold pending further consultations after concerns emerged over the timing, transparency, and potential impact on millions of mobile money users across the country.
Speaking on the matter, West Africa Regional Director of CUTS International Accra, Appiah Kusi Adomako, praised the Bank of Ghana for what he described as swift and proactive regulatory oversight.
“We applaud the Bank of Ghana for acting swiftly to protect consumers,” he said. “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.”
CUTS Says Fee Review Not the Problem
While welcoming the suspension, CUTS clarified that it does not oppose MMFL’s right to review its pricing structure.
According to the organization, businesses operating in competitive markets are entitled to adjust fees in ways that support sustainability and operational efficiency.
However, the think tank stressed that such changes must comply strictly with regulatory standards and must be implemented in a manner that respects consumer rights and market fairness.
Concerns Over Market Dominance
A major concern raised by CUTS relates to MMFL’s dominance within Ghana’s mobile money industry. The organization estimates that MMFL controls approximately 75 percent of the mobile money market, giving it significant market power.
According to Adomako, while competition law does not prohibit market dominance, it prohibits the abuse of a dominant position.
He argued that the short notice given to consumers before the proposed implementation amounted to unfair conduct.
“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,” he stated.
“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.”
Debate Over ‘Fair Notice’
CUTS described the seven-day notice period as inadequate for a fee adjustment of such magnitude, arguing that the principle of “fair notice” is central to consumer protection and ethical commercial practice.
The organization maintained that adequate notice periods allow customers enough time to compare alternatives such as Telecel Cash and AT Cash before deciding whether to remain with a provider.
According to CUTS, the limited notice effectively denied consumers the opportunity to make informed choices.
Mobile Money’s Role in Financial Inclusion
The think tank further warned that policy decisions affecting mobile money services must be handled carefully because of the sector’s importance to the financial inclusion agenda.
Mobile money platforms have become deeply integrated into everyday economic life in Ghana, helping millions of people access financial services, transfer funds, save money, and conduct business transactions without relying on traditional banking systems.
“Mobile money has come to stay,” the statement noted. “It is central to our financial inclusion story and the daily lives of millions of Ghanaians.”
CUTS therefore called on MMFL to engage constructively with regulators, consumer groups, and the wider public during the consultation process to ensure any eventual fee adjustments are transparent, fair, and sustainable.
