A group of citizens, professionals, and stakeholders within Ghana’s digital economy has petitioned the Ministries of Communications, Digitalisation and Innovation, and Finance to urgently intervene in what they describe as excessive and unfair charges imposed on mobile money and electronic financial transactions.

The petition, dated May 26, 2026, and was submitted by Isaac Adjin Bonney, Coordinator of District Societies of the Institute of Chartered Accountants Ghana (ICAG) and Chairman of the Adentan District Society of ICAG.

The petition follows growing public concern over charges associated with mobile money transfers, digital banking, and fintech services, including the recently suspended proposed 0.75 per cent fee on direct wallet-to-bank transfers by Mobile Money Fintech Limited (MMFL).

According to the petitioners, while regulation within the financial technology sector is necessary, consumers are increasingly burdened by multiple charges that threaten financial inclusion and undermine Ghana’s digitalisation agenda.

The group argued that although government did not directly invest in the development of mobile money services, regulatory oversight must not result in what they described as “double taxation” on consumers.

They also raised concerns over what they termed the dominant market position of major telecommunications operators, particularly MTN, warning that inadequate price regulation allows dominant players to impose charges that may not reflect fair market competition.

The petition further stated that consumers currently shoulder the full cost of many digital transactions, while banks, fintech firms, and telecom operators continue to derive substantial profits from the platforms.

According to the stakeholders, excessive transaction charges risk driving many users away from digital payments back to cash transactions, thereby affecting Ghana’s cash-lite and digital financial inclusion agenda.

The petition called on regulators, including the Bank of Ghana (BoG), the National Communications Authority (NCA), and the Office of the Registrar of Companies (ORC), to introduce a transparent pricing framework for mobile money and electronic banking services.

Among the key recommendations outlined were the establishment of maximum allowable fees for digital transactions, mandatory public approval processes for new charges, and the publication of transparent tariff schedules.

The petitioners also proposed a cost-sharing mechanism between telecom companies, banks, and fintech firms to prevent consumers from bearing the entire cost of platform usage fees.

Additionally, they urged regulators to strengthen interoperability within the financial technology sector, enforce fair competition, and prevent the abuse of market dominance.

The group further called for the creation of a public complaints mechanism for unfair charges, mandatory disclosure of transaction fees before payments are completed, and periodic consumer impact assessments before new charges are introduced.

They also advocated compulsory stakeholder consultations involving institutions such as ICAG, GUTA, consumer advocacy groups, fintech companies, and telecom operators before any industry-wide fee adjustments are approved.

The petition concluded by urging government to strike a balance between regulation, innovation, and consumer protection to ensure Ghana maintains an affordable, inclusive, and sustainable digital financial ecosystem.