Mobile money (MoMo) agents have appealed to the government and telecommunication companies to support a nationwide public education campaign ahead of the implementation of the Electronic Transfer Levy (E-Levy), aimed at reducing panic withdrawals.
The Mobile Money Agents Association of Ghana (MMAAG) said its ongoing awareness campaign had already reduced panic withdrawals by about half but warned that more education was needed to prevent widespread misconceptions about the levy.
Get more exclusive breaking news updates on our WhatsApp channel .
The association’s General Secretary, Evans Otumfuo, said agents interact with customers daily and are well-positioned to educate the public on the levy and its exemptions. He noted that many people still mistakenly believe the tax applies to every mobile money transaction.
The E-Levy imposes a 1.5 per cent charge on eligible electronic transfers, with exemptions including daily transfers below GH¢100 by the same person, transfers between accounts owned by the same individual, certain merchant payments, government payments, and agent-related transactions.
Market surveys showed increased cash withdrawals and reduced mobile money deposits as customers prepared for the levy. Some traders also began asking customers to pay transaction charges before accepting mobile money payments.
A fiscal policy expert, Dr. Alex Ampaabeng, said the levy could initially affect electronic transactions but argued that convenience would encourage continued use over time. He also urged the government to demonstrate transparency in the use of E-Levy funds to build public confidence.
