The leadership of the Mobile Money (Momo) Agents Association of Ghana has revealed that ever since the controversial Electronic Transactions Levey, popularly known as E-Levy was introduced by the previous government, over 17,000 mobile money businesses across the country has collapsed.
An internal survey which was conducted by the association revealed that a significant number of their members stopped operating their businesses due to the multiple deductions that were made on transactions such as bank transfers or even between their fellow agents.
According to the general secretary of the association, Mr. Evans Otumfuo, many of these mobile money operators realised that their capital and income had reduced drastically, ever since the e-levy was rolled out.
Speaking in an interview with JoyNews’ Emmanuel Quaicoe, Mr. Otumfuo lauded government’s decision to abolish the tax component, as its introduction has had counterproductive effects on their business. “We believe strongly that the e-levy has been counterproductive to us and has really had a very bad impact on our businesses.”
Recounting their ordeal, he said, “at a point, agents were at a point, subjected to e-levy, various forms of levy deductions. And you know, we also work with the bank, our funds also deal with transfer from one bank to another, from one agent’s account to another agent’s account. I mean all of these had to face the harshest reality from the e-levy.”
“We lost our working capital; our working capital reduced drastically and so it hasn’t been in the interest of our business so far and so if it has come to the bold notice of the government to abolish it, we really receive it as good news to the business and we want to really see it being implemented.”
Source: Dehotpress
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