Telecomm companies to reduce charges on MoMo services over Covid-19

1 min

MoMo, Telecomm, Coronavirus

The Chief Executive Officer (CEO) of the Ghana Chamber of Telecommunications, Mr Ken Ashigbey, has said Telecomm companies are considering a reduction in their charges on Mobile Money (MoMo) transactions during this period of the coronavirus outbreak.

This, he said, forms part of plans to go cashless and rely more on digital financial services in order to avoid coming into contact with the virus through the exchange of physical cash.

He further revealed the Chamber is in discussion with the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) to make this a reality.

At the moment, subscribers of MTN Mobile Money pay 50 pesewas if they transfer funds from GHC 1 to GHC 50.

From about GHC 50 to GHC 1,000 they have to pay 1 % of the amount. If the amount exceeds GHC 1,000 then they have to pay a flat rate of GHC 10.

Using cashless and digital financial services will be really critical at this time. It is important that we find ways in which to get our customers to access these services easily.

So as a Chamber we have been having discussions with our members and would be engaging the Bank of Ghana in this respect.

We will be considering a reduction in our charges, to help people use our services a lot more,” Mr Ashigbey told Accra based Citi FM.

Another key thing that we will be looking at are the charges associated with mobile money interoperability, and we will be holding discussions with the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) on that in the coming days – he added.

Mr. Ashigbey added that they will also discuss soon a possible review of the number of money subscribers can transfer from their wallets with the Bank of Ghana, to ensure people are able to access and transfer more funds in these trying times.

We would also need to look at the daily and monthly transaction limits that currently exists as we engage the regulator. Once we get an alignment with our members, we will then reach out to the relevant regulators to move the discussion forward.

Ghana has confirmed seven cases of coronavirus infection.

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