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Tag Archives: Mobile Money

Bank of Ghana Raises Transaction Limits for Mobile Money Wallets Effective March 1

Starting March 1, 2024, the Bank of Ghana (BoG) has opted to revise the balance and transaction limits for customers’ mobile money wallets in response to the increasing trend of transactional activities and evolving customer requirements. The adjustment, as disclosed by the Ghana Chamber of Telecommunications, aims to accommodate the …

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Mobile Money Agents Suspend GHC1,000 Withdrawal Limit Amid Commission Dispute

In response to what they perceive as stagnant and insufficient commissions, the Mobile Money Advocacy Group (MoMAG) has taken decisive action. After engaging in discussions with pertinent authorities, MoMAG has promptly suspended the enforced limit of GHC1,000 on mobile money withdrawals. This decision to revoke the cap was announced through …

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Total Mobile Money Transactions Hit GHS1.190trn in Eight Months

During the first eight months of 2023, Mobile Money transactions reached an impressive ¢1.190 trillion, as reported in the September 2023 Summary of Economic and Financial Data released by the Bank of Ghana. This marks a substantial increase compared to the ¢655.97 billion recorded during the same period in 2022. …

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2022 Budget: Government Announces E-levy On Mobile Money Transaction

2022 Budget: Government Announces E-levy On Mobile Money Transaction

The government, as part of strategies to widen the country’s tax net, has announced an Electronic Transaction Levy. It will be a 1.75 percent charge on all electronic transactions. This fee, according to the Finance Minister, Ken Ofori-Atta, is to enhance financial inclusion and protect the vulnerable. Transactions covering mobile …

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