Telcommunications companies (Telcos) have, beginning March 20, 2020, scrapped all charges on mobile money transfers of GH₵100 and below for the next three months, as part of efforts to encourage cashless transactions amid the fast spread of the coronavirus pandemic.
The move forms part of measures prescribed by the Bank of Ghana to facilitate more efficient payments and promote digital forms of payments, as well as to contain the impact of the COVID-19 on the Ghanaian economy.
“The Bank of Ghana has agreed with banks and mobile network operators on measures to facilitate more efficient payments and promote digital forms of payments for the next three months, subject to review, effective March 20, 2020.
All mobile money users can send up to GH₵100 for free (excluding cash out). This includes sending to a recipient on the same network, or another network via the interoperability platform,” a press release from the central bank said.
Health experts say one of the ways in which the COVID-19 spread is through the use of cash. Since Ghana’s economy is largely cash-driven, the central bank, together with the Telcos, want to encourage many to use digital platforms for their transactions in order to reduce the spread of the disease through cash.
We also encourage all our tenants at Green Views to use digital platforms in most of their transactions to prevent coming into contact with infested cash.