Telecommunications giant MTN Ghana has announced new charges on transfers from Mobile Money (MoMo) wallets to bank accounts, set to take effect from June 1, 2026. In a text message sent to customers on Monday, MTN said transfers from MoMo wallets to bank accounts will now attract a fee of 0.75 percent per transaction, capped […]
MobileMoney Fintech LTD has tightened oversight of its mobile money agent network, introducing stricter compliance checks aimed at safeguarding customers and reinforcing trust in Ghana’s fast-growing digital payments ecosystem. The company, in a media release issued in Accra on April 16, said it had begun routine verification exercises across the MoMo agent platform to ensure […]
Two armed robbers were shot and killed by the Tema Regional Operations Team on Monday morning, 13th April 2026, following a robbery at a Mobile Money (MoMo) outlet in Community 5. The incident, which occurred at approximately 8:30 a.m. at the Aba Fosuah Plaza, left the female MoMo vendor with a gunshot wound to the […]
The total value of mobile money transactions reached GH¢3.6 trillion in the first 10 months of 2025, ending October. This is according to the latest Economic and Financial Data released by the Bank of Ghana after last week’s Monetary Policy Committee meeting. The figure represents the total reported by telecom operators to the Bank of […]
Mobile money transactions in Ghana reached GH¢354.1 billion in August 2025, according to the Bank of Ghana’s latest Summary of Economic and Financial Data. The figure, though marginally lower than the GH¢355.4 billion recorded in July, reflects the sustained dominance of mobile payments in Ghana’s financial sector. Data from the central bank showed that the […]
The Vice President of Ghana, Dr. Mahamudu Bawumia, has proposed that mobile money (MoMo) could serve as a common currency for Africa, addressing challenges associated with intra-African trade. He was speaking on Friday at the Africa Prosperity Network (APN) Interoperability Symposium in Accra. Addressing trade barriers Dr. Bawumia highlighted the persistent low levels of intra-African […]
The Economic and Organized Crime Office (EOCO) has arrested four people allegedly involved in a “sophisticated mobile money and sim swap fraud scheme.” EOCO has put the four accused, including a female, before an Accra Circuit Court for their actions, which have led to the loss of GHC113,947.57 cedis belonging to one of Ghana’s largest […]
The Bank of Ghana (BoG) has revised the balance and transaction limits of customers’ mobile money wallets upward, effective March 1, 2024. A statement from the Ghana Chamber of Telecommunications pointed out that the development is in line with increasing trends of transactional activities and evolving customer needs. On daily transaction limits, customers with a […]
The Member of Parliament for Zebilla, Cletus Avoka has attributed the perceived corruption within the legislature to the relentless demands imposed on lawmakers, primarily by the public and their constituents. Speaking to Starr FM, Mr. Avoka shed light on the challenges faced by MPs due to incessant financial solicitations. He revealed that these demands often […]
The total value of Mobile Money transactions in the first two months of 2023 hit ¢264.1 billion, about 72.6% growth year-on-year. This significant growth shows that Mobile Money transactions is hitting record highs despite the Electronic Transaction Levy (E-Levy). In the first two months of 2022, total Mobile Money Transactions stood at 153 billion According […]
MTN Mobile Money Limited, a subsidiary of MTN Ghana, has effectively implemented the new Bank of Ghana (BoG) daily and monthly limits on mobile money transactions. It is part of measures to facilitate more efficient payments and encourage a seamless transition to a cash-lite society. Efficient payments A press release issued in Accra by MTN […]
The Vice-President, Dr Mahamudu Bawumia, has launched a platform that will harmonise individual fraud control mechanisms of mobile money operators in the country. He said the system would help in blocking subscriber identification module (SIM) cards and mobile devices, as well as blacklist identification numbers that connected to fraud or general crime-related cases. Dr Bawumia, […]
