BoG Suspension of MoMo Transfer Fee Offers Relief to Ghana’s Freight Forwarders
Ghana’s freight forwarding industry has welcomed the Bank of Ghana’s decision to suspend the planned 0.75% wallet-to-bank transfer fee announced by Mobile Money Limited (MTN MoMo), describing the move as critical to protecting businesses already heavily dependent on digital financial transactions.
The Freight Forwarders Association of Ghana (FFAG) said the proposed charge had triggered concern within the trade and logistics sector, where mobile money platforms and bank-linked transfers now play a central role in daily commercial operations.
From customs-related payments and transport settlements to supplier transactions and client payments, digital transfers have increasingly become the backbone of business activity within Ghana’s logistics ecosystem.
Industry operators warn that while the proposed fee may appear marginal individually, the cumulative impact on businesses processing multiple transactions daily could significantly increase operating costs over time.
The Association argued that the growing digitalization of trade operations makes affordable electronic transactions essential to improving efficiency and supporting business competitiveness.
In a statement signed by FFAG President Francis Nyarepe-Attipoe, the Association commended the central bank for intervening to halt implementation of the charge following concerns raised by businesses and the wider public.
FFAG maintained that reducing transaction costs remains important to improving Ghana’s ease of doing business and strengthening the country’s position as a regional trade and logistics hub under the African Continental Free Trade Area (AfCFTA).
“FFAG remains committed to supporting policies that promote efficient trade, financial accessibility, and the reduction of the cost of doing business in Ghana,” the statement noted.
The issue has also reignited broader debate around the affordability of Ghana’s expanding digital finance ecosystem at a time when policymakers are actively encouraging cashless transactions and financial inclusion.
For many businesses, particularly small and medium-scale operators, mobile money systems have become indispensable because of their speed, accessibility and convenience.
Within Ghana’s trading community, concerns persist that rising transaction-related costs could eventually discourage digital payment adoption among smaller operators and informal-sector businesses that depend heavily on low-cost transfers.
The Bank of Ghana’s intervention is therefore being viewed by sections of the business community as an attempt to strike a balance between financial innovation, affordability and broader economic competitiveness.
