The Association of Mobile Money Agents of Ghana is now urging the government to reduce the Electronic Transfer Levy (E-levy) from 1 % to 0.5 %.
Reduction of E-levy was announced by Finance Minister Ken Ofori-Atta while presenting the 2023 budget from 1.5 % to 1 %, which is to applied to all transactions effective 2023.
While MoMo agents initially seemed to support the policy, now they have asked the government to reconsider the E-levy rate.
The General Secretary of the Association, Evans Otumfour while speaking on Citi TV has said Ghanaians will keep evading the levy should the government fail to further reduce the rate.
Sharing his statement;
Government must research to find out why people are not patronizing MoMo. The rate is one of the major hindrances to the government achieving its revenue. So government must reduce the rate so that many people will not be impacted. There are over 17 million MoMo users, so if government pegs the rate at 0.1 or 0.5 percent, it will still meet its revenue target. If not, people will look for alternatives like the use of cash.