All mobile money transfers of GH¢100 and below will attract no charges from service providers for the next three months, subject to review, the Bank of Ghana has announced.
The new move begins Friday, March 20, 2020.
It is part of various measures outlined by telecommunication companies to help support the fight against the Coronavirus (COVID-19) pandemic with the aim to facilitate more efficient payments and promote digital forms of payments, as well as to contain the impact of the Coronavirus on the Ghanaian economy.
“The Bank of Ghana has agreed with banks and mobile network operators on measures to facilitate more efficient payments and promote digital forms of payments for the next three months, subject to review, effective March 20, 2020,” a statement by the BoG said.
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,” a press statement from the BoG added.
In addition, the daily transaction limits for users have been increased, and all mobile phone subscribers are now permitted to use their already existing mobile phone registration details to be on-boarded for Minimum KYC Account.
This is following talks with the Bank of Ghana to reduce the cost of mobile money transactions.
The telcos made the move anticipating that more mobile money transactions by consumers would take place than cash as a way of avoiding contracting Coronavirus.
The telcos are also working with the Ministry of Communication and Ministry of Health, as well as the National Communications Authority (NCA) to officially announce the existing national emergency short code, 112, as the official helpline for Coronavirus (COVID-19).
They will also give free access to the Ministry of Health website and other vital websites even if customers do not have data to access.
