- CUTS Praises BoG for Stopping MTN’s New MoMo Fee
CUTS International Accra has commended the Bank of Ghana for directing Mobile Money Fintech Limited, operator of MTN Mobile Money, to suspend its proposed 0.75 per cent wallet-to-bank transfer fee, describing the central bank’s intervention as a timely consumer protection measure.
The proposed fee, which was scheduled to take effect on June 1, 2026, has been placed on hold pending further consultation after regulatory intervention by the Bank of Ghana.
In a press release, the public policy think tank said the decision reflected the kind of proactive regulatory oversight needed to protect consumers and preserve public trust in Ghana’s fast-growing digital financial services ecosystem.
“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,” said Appiah Kusi Adomako, West Africa Regional Director of CUTS International Accra.
He added that the central bank had “sent a clear signal” that changes to charges in the mobile money ecosystem must be introduced fairly, transparently and in line with the law.
CUTS, however, clarified that it does not oppose the right of Mobile Money Fintech Limited to review and adjust its fees in principle. It said businesses operating in competitive markets have a legitimate interest in pricing their services in ways that support sustainability.
But the organisation insisted that such adjustments must be consistent with the applicable regulatory framework and fair to consumers.
The think tank’s strongest criticism centred on the notice period given to consumers before the proposed fee was to take effect.
According to CUTS, MMFL commands about 75 per cent of Ghana’s mobile money market, making it a dominant player with significant market power. It argued that dominance is not prohibited under competition law, but abuse of dominance is.
The organisation said a player with such market power has the ability to raise prices above competitive levels and sustain them without facing meaningful customer attrition or loss of market share.
“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 said.
He argued that the issue went beyond inconvenience, describing the short notice period as a 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 added.
CUTS said a seven-day notice period was “wholly inadequate” for a pricing change of that nature and magnitude. It described the doctrine of fair notice as a core principle of consumer protection and ethical commercial conduct.
The organisation said adequate notice allows dissatisfied consumers to exercise their right to switch to alternative providers such as Telecel Cash or AT Cash. It argued that MMFL’s short notice effectively denied consumers the practical opportunity to make that choice.
The intervention adds a competition policy dimension to the public debate over the proposed wallet-to-bank charge. Until now, much of the concern had focused on affordability and the cumulative cost of digital transactions. CUTS’ position broadens the issue to include market dominance, consumer choice, fair notice and regulatory accountability.
Mobile money has become central to Ghana’s financial inclusion architecture, enabling millions of citizens to send money, make payments, access financial services and link mobile wallets to bank accounts.
CUTS said the ability to transfer funds seamlessly between mobile wallets and bank accounts has reduced congestion in banking halls, lowered transaction costs, extended financial services to the unbanked and allowed more citizens to participate 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 said.
The organisation called on MMFL to use the consultation period to engage meaningfully with regulators, consumer advocates and the public to arrive at what it described as a fair and sustainable outcome.
The Bank of Ghana’s suspension of the proposed fee does not necessarily mean the charge has been permanently cancelled. Rather, it places the implementation on hold while stakeholders examine the consumer, regulatory and market implications. For consumers, the immediate effect is that the proposed 0.75 per cent wallet-to-bank transfer fee will not take effect on June 1 as earlier planned.
For regulators, the matter has become a test of how pricing power should be managed in a digital financial services market dominated by a single player. For MMFL, the challenge is to justify any proposed fee adjustment in a manner that satisfies regulatory expectations, protects consumer welfare and preserves trust in mobile money as a key driver of financial inclusion.
CUTS’ message is clear: mobile money providers can review their charges, but dominant market players must do so with transparency, adequate notice and respect for consumer choice.
