0.75% wallet-to-bank transfer levy was approved under Akufo-Addo gov't — Isaac Adongo
Chairman of Parliament’s Finance Committee, Isaac Adongo, has accused the Minority Caucus of misleading Ghanaians over the recently announced 0.75 per cent wallet-to-bank transfer levy, insisting that the charge was approved by the Bank of Ghana under the previous Akufo-Addo administration.
Contributing to a debate on a statement delivered by Finance Minister Dr Cassiel Ato Forson on the floor of Parliament, Adongo said records in his possession show that the Bank of Ghana granted Mobile Money Fintech Limited approval to introduce the charge in January 2024, nearly a year before the current administration assumed office.
According to him, a letter dated January 31, 2024, from the Bank of Ghana to MTN provided a “no objection” for the introduction of several mobile money charges, including a 0.75 per cent fee on transfers from mobile money wallets to bank accounts, capped at GH¢55.
“I have in my hands a letter that was signed by the Bank of Ghana to MTN, dated January 31st, 2024. NDC was not in power in 2024, January,” Adongo told the House.
He further stated that the same approval also covered a one per cent fee on cash-out transactions below GH¢2,000.
Adongo argued that the approval undermines claims by the Minority that the Mahama administration had introduced a new electronic levy through the wallet-to-bank transfer charge.
“That transfer from wallet to bank was approved by the descendants of Dr Bawumia,” he said.
The Bolgatanga Central MP criticised the opposition for linking the charge to the current government and challenged the Minority to publicly retract its claims.
“I want them to hold another press conference when we are done to apologise to the people of Ghana, because deception and falsehood has no place in our governance,” he stated.
He further maintained that there was no basis for describing the charge as a new e-levy introduced by the current administration.
“There was no such e-levy. And that you manufactured an e-levy that doesn’t exist,” Adongo added.
The debate follows public controversy over the 0.75 per cent wallet-to-bank transfer levy announced by Mobile Money Fintech Limited, with the Minority accusing the government of reintroducing electronic transaction charges despite the repeal of the Electronic Transfer Levy (E-Levy).
Meanwhile, the Bank of Ghana (BoG) has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75% fee on direct wallet-to-bank transfers, pending further consultations.
The proposed charge, originally scheduled to take effect on June 1, 2026, has been put on hold to allow for broader stakeholder engagement and review.
-citinewsroom