Connect with us

Hi, what are you looking for?


E-levy’ll heighten armed robbery and collapse jobs- MoMo Agents warns

E-levy’ll heighten armed robbery and collapse jobs- MoMo Agents warns

Mobile Money Agents Association of Ghana are warning that implementation of controversial 1.75% tax on momo and other digital transactions proposed in the 2022 Budget and Fiscal Policy will increase armed robbery and collapse of businesses.

Speaking at a press conference on Tuesday, 7 December 2021, the secretary to the group, Mr Evans Otumfuo, said: “As a union that directly relates to mobile money, we have identified 12 consequences that we’ll be facing if the government still pursues the e-levy”.

“It will elicit behaviours that will undermine the cash lite system and digitalisation drive of the economy”; and also “millions of young people will lose their jobs”, he noted.

Additionally, he said there will be an 80 per cent chance of going back to the cash system and innovative businesses that try to leverage mobile money may lose their investment.

Also, he said the “country will be taken several years back from where we have gotten to” while the gap between the “banked and the unbanked will just sink”.

Furthermore, Mr Otumfuo said “investors in the sector will begin to draw back, which, of course, we are also part of”, and “it will slow down a tall of economic activities”.

“Robberies and criminal activities will be on the ascendency”, he warned, and “long hours of doing business will greet us again” with the cost of doing business “skyrocketing”.

“For these clear consequences, we also advocate that the electronic levy should be scrapped for more consultation”, he proposed.

According to him, “even before the above-listed implications slam the economy, the proposed levy, since its presentation, has resulted in a downward trend, which is highly critical to the mobile money business”.

The e-levy contained in the 2022 Budget has sharp divided majority and Minority Caucuses of Parliament over approval or otherwise.


E-levy'll heighten armed robbery and collapse jobs- MoMo Agents warns

There is a good reason why you should support the African Editors. Not everyone can afford to pay for news right now. That is why we keep our journalism open for everyone to read, including in Ghana. If this is you, please continue to read for free. But if you are able to, then there are three good reasons to support us today.

1. Our quality, journalism is a scrutinising force at a time when the rich and powerful are getting away with more and more.

2. We are independent and have no billionaire owner pulling the strings, so your money directly powers our reporting.

3. It doesn’t cost much, and takes less time than it took to read this message.

Help power the African Editors' journalism for the years to come, whether with a small sum or a larger one. If you can, please support us on a monthly basis from just 1 Ghana Cedi through mobile money number: 0599896099/ +23359989609 and you can be rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.

Click to comment

Leave a Reply

You May Also Like


Neglected tropical diseases rising in E/R- GHS Eastern Regional Health Directorate says there is disturbing increase in cases of neglected tropical Diseases in the...


At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos.


Kagame Tells Europe that Africa Doesn’t Need Adult Supervision but Fair Trade.    There is a good reason why you should support the African...


Daasebre Oti Boateng introduces Root-Based Model to Akufo-Addo, Bawumia, commends them for 2021 Census & Covid-19 fight Omanhene of New Juaben, Chancellor of All...

Copyright © 2023, Ltd was developed by Wordswar Technology & Investment, Inc. Contact us on +233246187160

%d bloggers like this: