Reject 1.75% E-levy – Mobile Money Association petitions Minority

According to the MoMo operators, after a careful examination of the E-levy, it will have an impact on the economy and take most of them out of work.

The General Secretary of the Association, Evans Otumfour, presenting the petition to the Minority, said the charge would damage the country's cashless system, result in job losses, and have an impact on the government's digitalisation effort.

He said "Yes mobile money has become the major driver of both formal and informal sector, everybody is now leveraging on whatever economic activity to transact using the mobile money platform. So after our assessment, we have realised that there are about 12, challenges should the government continue to pursue the e-levy in its current state or form."

He added that, given the issues raised in the petition, the E-levy bill in its existing form "should be scrapped."

"We are agents and we play major roles within the industry so when we realise that our profit margins are going to be affected, our lives are also under threat then we will be left with no alternative than to consider pulling back our investment," he explained.

The Finance Minister, Ken Ofori Atta, reading the 2022 budget in Parliament on Wednesday, November 17, 2021, said the government has decided to place a levy on all electronic transactions.

According to him, electronic transactions covering mobile money payments, bank transfers, merchant payments, and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except for inward remittances, which will be borne by the recipient.