This was announced after the Monetary Policy Committee meeting today.
MoMo transfers up to GHC100 is now free
The Bank of Ghana (BoG) and mobile network operators in Ghana has said that mobile money charges on transfers up to GHC100 is now free.
The BoG also increased the daily thresholds for various mobile money wallets. These new directives are effective from March 20, 2020.
In a statement released the BoG said:
“The Bank of Ghana has agreed with banks and mobile network operators
on measures to facilitate more efficient payments and promote digital forms of
payments for the next three months, subject to review, effective March 20, 2020.
(i) All mobile money users can send up to GH₵100 for free (excluding cash
out). This includes sending to a recipient on the same network, or another
network via the interoperability platform.
(ii) All mobile phone subscribers are now permitted to use their already existing
mobile phone registration details to be on-boarded for Minimum KYC
(iii)The daily transaction limits for mobile money are increased as follows:
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