Ghana, Kenya tweak mobile money charges

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AS part of measures to reduce the handling of cash amid the coronavirus pandemic, telecom operators in Ghana have agreed with the Bank of Ghana (BoG) to waive charges on a certain amount of transaction.

All transfers of 100 Ghana cedis (about $18) or below will attract no charge, according to a current directive from the BoG. The measure is supposed to be in place for the next three months.

‘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,’ a BoG statement noted.

The West African country has a high mobile network coverage with most people preferring money transfers using mobile transactions than banks. All networks have platforms that offer a wide range of services from sending and receiving money to the payment of utility bills etc.

Kenya’s major network operators had also announced a similar measure days back. Kenya’s M-Pesa is one of the most efficient mobile money transaction platforms across Africa.

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