Bank of Ghana suspends remittance partnerships with 5 Money Transfer Operators.
Bank of Ghana suspends remittance partnerships with 5 Money Transfer Operators.
The Bank of Ghana has suspended all the remittance partnerships of the following Money Transfer Operators (MTOs) for a period of one month.
The suspension takes effect on September 18, 2025.
The affected MTOs are;
- Taptap Send
- Top Connect
- Remit Choice
- Send App
- Afriex
This is as a result of various breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Bank of Ghana Notice No. BG/GOV/SEC/2025/25, a statement issued by the BoG said on Thursday September 4.
According to the statement, these MTOs conducted unauthorized remittance activities with PSPs – Halges Financial Technologies Limited, Cellulant Limited and Flutter wave Inc., through their settlement bank, UBA Ghana.
“The aforementioned MTOs shall be permitted to re-engage in remittance activities only upon the re-application by their partner PSPs or banks for the Bank of Ghana’s consideration, following the expiration of the suspension period.
“By this statement, we caution foreign exchange market players to adhere strictly to the applicable forex market regulations and guidelines,” the statement said.
