In a recent development, leading mobile telecommunications company MTN has announced the suspension of their decision to increase Mobile Money fees. The proposed changes, which included a 1% charge on transactions up to GH¢2,000 and a flat rate of GH¢20 for transactions above that amount, were initially set to take effect from Saturday, July 1.
However, MTN has now decided to put the implementation of the new fees on hold indefinitely. In a statement released on Monday, June 26, the company stated, “The planned review of cash-out fees for MoMo, scheduled for July 1, 2023, has been put on hold until further notice.” They also assured customers that the current cash-out fee of GH¢10 would continue to apply and be charged to their Mobile Money wallets.
MTN Ghana apologized for any inconvenience the initial announcement may have caused and concluded their statement by saying, “Just MoMo it.” This decision to suspend the fee increase will provide some relief for Mobile Money users in Ghana, who will continue to enjoy the existing fee structure for the time being.
