MTN Mobile Money Corporation is making waves in Cameroon’s financial sector with a groundbreaking announcement: a major overhaul of transaction fees. In a bold move aimed at enhancing accessibility and encouraging financial inclusion, the company has eliminated transaction fees for deposits, transfers, and merchant payments, setting them at a remarkable 0 FCFA (excluding taxes). Additionally, withdrawal charges have been significantly reduced to just 1% (excluding taxes) for all users, marking a transformative shift in the way digital money is managed and utilized in the country.The new pricing scheme was announced on February 27, 2026, during a press conference in Douala titled “The Leader Takes Charge,” featuring the slogan “Unbeatable Prices for Everyone.” The event was led by Alain Claude Nono, CEO of MTN Mobile Money Corporation, and attended by Wanda Matandela, CEO of MTN Cameroon, along with senior executives such as Tracy Kadji, Commercial and Digital Channels Director, and Riad Mezi, Marketing Director.Under this new pricing structure, it was emphasized that all money transfers, deposits, and merchant payments within the MTN MoMo ecosystem will incur no service fees from MTN, aside from statutory government taxes and specific bill payments, such as utilities.
Speaking at the ceremony, Alain Claude Nono described the move as a “response to the cry ” of consumers across all social classes.“From today, your transfers within the ecosystem are free. There will be no fee charged by MTN MoMo for sending money, except for the applicable government tax. This is a real revolution in the way we manage money digitally,” he said.The CEO emphasized that the elimination of transfer fees represents the highlight of the new pricing regime, particularly at a time when households are grappling with economic pressures.“In an environment where every franc counts, completely free transfers demonstrate that MoMo is committed to playing its role as a trusted financial partner,” Nono added.Withdrawal fees harmonised at 1%Withdrawal and or cash-out fees have been harmonised at 1% for all customers, marking a 25% reduction for segments that previously paid 1.5%.Before now, it was said that, only premium smartphone users benefited from the 1% rate, while mass market users transacting via the USSD code *126# were charged higher fees. But with the new campaign ,all 15 million MoMo account holders have been placed on equal footing, regardless of whether they use the MoMo app or basic feature phones.
Tracy Kadji, Director of Sales and Digital Channels, explained that reducing cash-out costs will ease the transition between digital and physical cash.“The most common transactions for customers especially women are transfers, payments and withdrawals. By eliminating transfer fees and reducing withdrawal charges, we are making digital money circulation more accessible and affordable for everyone,” she said.Noting that, the business is operating in an increasingly competitive fintech landscape, MTN Mobile Money Corporation officials said the new pricing strategy is designed to boost customer loyalty and expand financial inclusion.With over 15 million MoMo accounts and approximately 300,000 merchant points nationwide, the company aims to consolidate its dominance in Cameroon’s digital payments sector.Wanda Matandela noted that the strategy seeks to permanently position MoMo as a cornerstone of the national digital economy.“We are aware of the economic challenges facing Cameroonians. This is our way of listening to consumers and taking care of everyone, regardless of the channel they use. Leadership is not just a claim; it is demonstrated through concrete action,” he stated.Beyond competitive pricing, MTN Mobile Money Corporation reiterated its continued commitment to innovation, including digital payment tools such as virtual bank cards for global transactions. The company also reaffirmed its adherence to international consumer protection standards through its GSMA Mobile Money certification which is a first in the CEMAC zone
With transfers now free and withdrawal fees reduced, this latest initiative is anticipated to significantly boost digital financial adoption, especially among low-income earners and basic phone users who depend on USSD services.
Visionary Reports 
Leave a comment