Browsing Tag

Money Transfer Operators (MTOs)

BoG Suspends Taptap Send, 4 Others Over Remittance Breaches

Emmanuel Nkansah Abankwah Sep 5, 2025

The Bank of Ghana (BoG) has suspended the remittance operations of five Money Transfer Operators (MTOs) — Taptap Send, Top Connect, Remit Choice, Send App, and Afriex — effective September 18, 2025, for breaching regulatory guidelines. The…
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BoG Dismisses Claims of Forex Hoarding by FinTechs and MTOs

Emmanuel Nkansah Abankwah Feb 24, 2025

The Bank of Ghana (BoG) has refuted allegations that FinTech companies and Money Transfer Operators (MTOs) are withholding billions in foreign currency from remittance inflows, exacerbating the depreciation of the Ghanaian cedi. A source…
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