Coronavirus: Internal auditors urge telcos to reduce mobile money charges by 50% , here's why

The Institute of Internal Auditors Ghana has urged the Bank of Ghana and Telecom operators to consider reducing charges on mobile money transactions by at least 50 percent.

Coronavirus: Internal auditors urge telcos to reduce mobile money charges by 50% , here's why

This, according to the institute, will help minimise the spread of Coronavirus, explaining that “the use of physical cash according to health professionals can contribute to the spread of Covid-19.”

The Chairman of the Advocacy Committee of Internal Auditors, Ghana Kofi Apengtem said this when he spoke in an interview with Accra based Joy FM.

He said the central bank should take advantage of this in promoting the cashless economy agenda.

Adding that said the reduction in Momo charges will reduce how people come in contact with physical cash hence reducing their risk of being infected with the virus.


Speaking on the losses that they may incur, Kofi Apengtem said the increase in volumes of transactions due to the action will compensate for their losses.

"Bank of Ghana and the Telecos can help all of us by reducing the transfer charges on mobile money, Momo is almost everywhere and I believe that the increased volumes in transactions will handsomely compensate for the initial loss that they may incur in halving their transfer charges,” he said.

Adding that “I believe that we also need to protect our health workers when we are paying fees at the hospitals and pharmacies by using MOMO and other cashless systems or else we may kill them before they will be able to help us as a country."

World Health Organisation cautions countries on the spread of the disease through banknotes

Meanwhile, the World Health Organisation (WHO) has alerted people against excessive use of cash.


According to the WHO, the notes are capable of spreading the deadly coronavirus.

The caution comes after the Bank of England disclosed that banknotes “can carry bacteria or viruses”.

It has, hence, recommended the use of contactless technology and the washing of hands in order to minimise the spread of the virus.

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