Members of the Mobile Money Agents Association of Ghana (MMAG) have tossed their weight behind the electronic transaction levy prominently known as the E-Levy passed by the government of Ghana.
In a recent meeting with the President of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo at the Office of the President, Jubilee House, on May 10, 2022, the General Secretary of the association, Evans Otumfuor, assured the government of its obligation to guaranteeing that the E-Levy’s execution will be supported by its members.
As per the General Secretary of the Association Mr Otumfour, they have seen government’s arrangement to introduce this electronic transaction levy which, as an association they have raised various worries.
Nonetheless, the association was in a meeting with the Ministry of Finance, Ghana Revenue Authority and other applicable partners and the majority of their interests in regards to the E-Levy have been tended to.
Mr Otumfour also accentuated that as an association, it is critical that as a country, measures are taken at difficult times when the need be. In this manner, the levy has now been passed into regulation and all residents should comply. So they (MMG) are here as partners and will not contradict any powers.
Members from the Mobile Money Agents Association of Ghana (MMAG), Commended the government for making a striking stride in getting revenue for the development of the country.
The General Secretary also expressed that, his members are additionally glad that the government has found a way to reduce the levy from the underlying 1.75% to 1.5% and a tall list of exceptions given by the levy.
He further appealed to the government to additionally reduce it inspired by a paranoid fear of its impacts on their business.
Again, he engaged President Akufo-Addo to address a portion of the challenges the E-levy has brought to them.
Particularly, the deductions that are made at the agent’s account in an attempt to push funds from their agent’s accounts to their bank accounts for purposes of withdrawals and other agents’ related activities”
The General Secretary also touched on the low level of education on the E-levy and pledged that the association is ready to help in educating Ghanaians on the levy. Therefore, there is the need for a massive sensitization to increase customers’ confidence in the usage of the Mobile Money platform.
He also touched on the challenges the association is facing which includes financial fraud, armed robbery, high cost of operations, difficulties in accessing funds.
The association also implored the President to include its members on boards and institutions whose policies and programs directly or indirectly affect their businesses.
“In concluding, the association is proud of you for these wonderful initiatives and that MMAG is ready to partner government to bring more of such refreshing policies since the Mobile Money business is one of the area government can invest in to create more employment for the youth” the General Secretary stated.
On his part, President Akufo-Addo thanked the association for agreeing to partner with government in ensuring that the E-levy becomes a success. The President also expressed his happiness about the fact that stakeholders in the industry voice out their concerns as and when the need arises.
“I think it is appropriate that stakeholders like you voice out your concerns as you did and that these concerns are taken into account by government so that when the law is finally shaped like it has been, it’s one that’s meaningful for the state and it’s equally meaningful for the private sector operatives who are in this area” the President emphasized.
Also present at the meeting were the Minister of Communications, Ursula Owusu Ekuful, the executive members of the Mobile Money Agents Association of Ghana (MMAG) and other top officials from the Communications Ministry as well as the Presidency.