The Bank of Ghana has announced that mobile money transactions below GH₵100 will attract no charges, effective Friday 20th March 2020
This is a part of an agreement between the central bank and the mobile network operators to promote the use of digital platforms for payments, following the deadly coronavirus outbreak.
The directive excludes cash withdrawals made through mobile wallets, the Monetary Policy Committee of BoG said in a statement Wednesday.
“All mobile money users can send up to GH₵100 for free (excluding cash out). This includes sending to a recipient on the same network, or another network via the interoperability platform.”
According to the statement, the policy which will run for the next three months, is subject to review.
The release also predicts that the coronavirus pandemic could see the growth of the economy take a steep downward plunge to 2.5 per cent in 2020.
