E-Levy: MoMo agents laud 1% revised charge

The Mobile Money Agents Association of Ghana has lauded the implementation of the of the revised 1% Electronic Transfer levy (E-Levy).

The implementation of the revised 1% Electronic Transfer levy (E-Levy) took effect yesterday, January 11, 2023.

The Telcos sent messages announcing the revised rates to their subscribers.

MTN Ghana’s message to its subscribers read: “Y’ello valued customers! Please be informed that the E-Levy charge has been reduced from 1.50% to 1%, effective January 11, 2023.” The charge applies to Momo transfers above GHS 100 daily. Thank you. “Kindly visit http://www.mtn.com.gh or http://www.gra.gov.gh for more details.

The Ghana Chamber of Telecommunications earlier announced the implementation of the revised Electronic Transfer levy (E-Levy) rate of 1%.

During the presentation of the 2023 Budget and Economic Policy Statement, government announced a review of the 1.5 percent electronic transaction levy to 1 percent effective January 2023.

A proposal that received Parliamentary approval.

Read Also: E-Levy: Revised 1% charge takes effect today

In a statement, The Ghana Chamber of Telecommunications said it was working assiduously with the Ghana Revenue Authority (GRA) and other key institutions, to ensure a seamless implementation of the revised levy from Wednesday, January 11, 2023.

Charlse Kwasi Addo, the PRO for the Mobile Money Agents Association of Ghana, said on Atinka TV’s Morning Show “Ghana Nie” with host Ama Gyenfa Ofosu Darkwa that reducing the 1.5 percent electronic transaction levy to 1 percent would boost the mobile money business.

According to Charles Kwasi Addo, the association has always pushed for a marginal rate to ensure that more people use the various mobile money platforms.

Charlse Kwasi Addo revealed that after the implementation of the E-levy the mobile money industry was greatly affected as it reportedly lost 4,000 active agents.

He said their numbers dropped from 454,000 in April to 458,000, which also reflected in a drop in the value of transactions by GH2.8 billion within the period under discussion.

“The review is a step in the right direction as it will encourage agents who had gone out of business to come back.” After the implementation of the E-levy, the mobile money industry was greatly affected, as it reportedly lost 4,000 active agents. “This, I believe, will go a long way to help,” he added.