Ghana’s Central Bank has announced the suspension of the country’s remittances partnership with three service providers over guideline breaches.
The three providers, Flutterwave, Halges Financial Technologies and Celulant Ghana are accused of multiple violations of the updated guidelines for Inward Remittance Service for Payment Service Providers, 2023.
The Bank of Ghana explains that the three providers conducted unauthorized remittance activities of some Money Transfer Operators, including Taptap Send, Top Connect, Remit Choice and Afriex, through the United Bank for Africa, (UBA Ghana).
A statement from Ghana’s Central Bank indicates that the suspension is effective for one month from September 18.
“All remittance partnerships between these PSPs and MTOs are hereby suspended. Any bank or MTO seeking to engage the affected PSPs for remittance services in the future must reapply for approval after the suspension period has lapsed,” the Bank of Ghana noted.
