Ghana's Minority in Parliament has demanded Finance Minister Dr. Cassiel Ato Forson appear before Parliament. They seek an explanation for the recently suspended 0.75% charge on Mobile Money-to-bank transfers. Minority Leader Alexander Afenyo-Markin stated the opposition is dissatisfied with the Bank of Ghana's decision to suspend the fee.
The core concern revolves around the introduction of the charge without adequate public engagement. This proposed fee, which triggered widespread public reactions, was initially set to begin on June 1, 2026. However, the Bank of Ghana has now paused its implementation to allow for more consultations and review.
This issue highlights ongoing debates in Ghana about transparency and public consultation in financial policymaking. The country has been encouraging digital transactions for financial inclusion and economic growth. However, new charges often face scrutiny over their impact on consumers and businesses. Previous attempts to introduce or adjust digital transaction fees have met with mixed reactions, reflecting the public's sensitivity to rising costs of living and doing business.
Minority Leader Alexander Afenyo-Markin publicly questioned the process that led to the introduction of the Mobile Money to bank transfer charge. Speaking to the media on Tuesday, May 26, he emphasized that Ghanaians deserve clear answers. He stated, "We are not interested in the suspension, we are interested in how come but for the public outcry they were going to spring this surprise on the Ghanaian public."
The Minority Leader has demanded the Finance Minister appear before Parliament on Thursday, May 28. This appearance would require him to explain how the policy was approved and the rationale behind the proposed charge. The opposition believes simply suspending the fee does not address concerns about transparency and proper public consultation in policy announcements.
This parliamentary demand signals potential legislative scrutiny over financial policy implementation and accountability. Decision-makers and financial markets will closely watch the Finance Minister's response and any subsequent action taken by Parliament. The outcome could influence future approaches to introducing new charges on digital financial services in Ghana, impacting consumer trust and the growth of the mobile money ecosystem.