The Mobile Money Agents Association of Ghana wants government to increase the education of the public on the electronic transfer levy in a bid to reduce the panic withdrawal at some mobile money vending stations.
According to the General Secretary of the association, Evans Otumfuor, the public must be informed that the deduction of the levy does not affect some transactions.
Mr. Otumfuor wants government to do more to educate the public about e-levy.
“Most Ghanaians are still ignorant about how the deductions will be made, and this is affecting mobile money vendors across the country. There have been a lot of panic withdrawals these past few weeks. We need more education on the tax. We are sure that when this is done, panic withdrawals will reduce.”
Evans Otumfour further urged agents of mobile money to continue with their business with hopes that all challenges with the new tax policy will soon be resolved.
“The E-Levy has come to stay and there is absolutely nothing we can do about it. We can only encourage our members to continue their business activities. We are hopeful that with time, Ghanaians will accept the tax and things will go back to normal.”
Government commenced the implementation of the controversial levy on May 1, 2022, despite widespread condemnation of the tax policy.
The levy was reduced from 1.75% to 1.5% after several protests led by the opposition party, its Members in Parliament, and some civil society groups.
Government had hoped to rake in about GH¢7 billion from the collection of the 1.5% levy on mobile money and other electronic transactions, but the figure was revised downwards to about GH¢4 billion recently.
Transactions afftected by E-Levy
The E-levy affects transfers between two different users on the same mobile network (eg. AirtelTigo to AirtelTigo, two different users on separate mobile networks (eg. AirtelTigo to MTN), transfers from Bank accounts to Mobile money accounts, transfers from Mobile money accounts to banks and interbank transfers using mobile applications or other digital platforms.