FFAG welcomes BoG's directive suspending proposed 0.75% wallet-to-bank transfer charges
The Freight Forwarders Association of Ghana (FFAG) welcomed the Bank of Ghana's directive suspending the proposed 0.75% charge on wallet-to-bank transfers. The charge was proposed by Mobile Money Fintech Ltd and was scheduled to take effect from June 1, 2026.
As key players in Ghana's international trade and logistics, FFAG depends on mobile money and digital financial transactions. Wallet-to-bank and bank-to-wallet transfers are indispensable for operational efficiency, especially for customs payments, port charges, transport coordination, supplier payments, emergency operational transactions, and cross-border trade settlements. The proposed 0.75% charge would have imposed a financial burden on freight forwarders, transport operators, importers, exporters, and small businesses. FFAG believes the suspension is in the best interest of businesses, financial inclusion, digital trade growth, and the wider Ghanaian economy.
FFAG called on Mobile Money Fintech Ltd and financial sector stakeholders to engage with industry players before implementing policies with operational and economic consequences. FFAG reaffirmed its commitment to supporting policies that promote efficient trade, financial accessibility, and efforts to reduce the cost of doing business in Ghana.
Quick Summary
The Freight Forwarders Association of Ghana (FFAG) acknowledges a proposed charge on wallet-to-bank transfers and the Bank of Ghana's subsequent directive. Freight forwarders depend on digital transactions- this policy shift could have significant implications.
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