The Bank of Ghana has revised the limits on mobile money transactions in the country.
A statement issued by the central bank on Thursday, December 22, 2022, explained that the review forms part of measures to “facilitate more efficient payments, encourage the seamless transition to a cash-lite society as well as promote the use of non-cash models of payments.”
According to the BoG, “the aggregate monthly transaction limits will, however, remain unchanged.”
The initial minimum for Know Your Customer (KYC) Account has been reviewed to GHS2,000 from GHS1,000 while Medium KYC has been increased to GHS10,000 from GHS5,000.
Also, the Enhanced KYC Account has been reviewed to GHS15,000 from GHS10,000.
Read the full details below:
Meanwhile, in other news, President Akufo-Addo has asked manufacturers, traders, and transport operators in Ghana to reduce their prices as the Cedi stabilizes.
There is some jubilation on the streets as the Ghana Cedi surges against the dollar.
