AFCOP commends Vodafone Ghana for waiving MoMo fees

The Alliance for Financial Consumer Protection (AFCOP) has commended Vodafone Ghana for waiving fees on all mobile money tranfers.

In a press release signed by its president, Woelinam Dogbe, AFCOP said it was particularly pleased that Vodafone did not limit the fee waiver to only transfers terminating in Vodafone Cash.

We received with great satisfaction, news that Vodafone Ghana has waived fees on transfers from Vodafone Cash to all mobile money wallets,” the release stated.

Over the past months, AFCOP has been advocating for financial service providers, including mobile money operators, to offer meaningful reliefs to consumers in order to partially alleviate the negative economic impact of COVID-19 on households.

It is against this background that AFCOP highly commends Vodafone Ghana for showing leadership by elevating consumer interest above its corporate revenue and profit interests,” it added.

With health experts warning that a potential mode of transmission of the coronavirus is through the handling of cash, it is imperative that players in the digital finance ecosystem commit themselves to driving consumer behaviour change; by nudging consumers to choose digital channels over cash
transactions.

According to AFCOP, the most viable way to build a cash lite society is by lowering the cost of using digital channels.

We therefore call on other mobile money operators in Ghana to follow Vodafone’s exemplary leadership by also waiving fees on all mobile money transfers,” AFCOP urged.

There can be no greater service to humanity than this, during the COVID-19 pandemic.

AFCOP also reiterated its call on all financial service providers to show genuine empathy towards consumers and to eschew tokenism and public relations gimmickry.

The Alliance for Financial Consumer Protection (AFCOP) is an independent civil society organization incorporated under the laws of Ghana and dedicated to promoting the protection of financial consumers in Ghana and across Africa.