The Bank of Ghana in a way to prevent the outbreak of Coronavirus in Ghana has agreed with banks and mobile network operators on measures to facilitate more efficient payments and promote digital forms of payments.
The new measures take effect on March 20, 2020, and it will go on for the next three months.
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Read the full statement below;
(i) 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.
(ii) All mobile phone subscribers are now permitted to use their already existing mobile phone registration details to be on-boarded for Minimum KYC Account.
(iii)The daily transaction limits for mobile money are increased as follows in the attached document:
“The Bank of Ghana is closely monitoring developments as regards the impact of COVID-19 on the domestic economy, and will not hesitate to convene an emergency meeting to deliberate on other measures if required.”
The BoG has also cut primary reserve requirement by 2 percentage points to provide more liquidity to banks to support critical sectors of the economy and has also lowered the country’s Monetary Policy Rate by 150 basis points to 14.5%.
Source: ghgossip.com
