The Mobile Money Agents Association of Ghana (MMAAG), in Takoradi, are complaining of panic withdrawals since the introduction of the 1.5 per cent charges on Electronic Transactions (E-levy) amongst other challenges facing their businesses. This according to the Association is affecting their operations making the business take a nosedive.
In an interview with Spice 91.9FM, with the leadership of the Association, President, Richard Amoah stated that for the past three to four days, members of the general public visit the agents to withdraw their monies because of the implementation of the e-levy.
“We are currently experiencing panic withdrawal from our customers because of the passage of the e-levy. And we feel the introduction will collapse our business. I have observed that the numbers have reduced so as the patronage.” he mentioned.
He revealed that people are refusing to patronize the business because there is low education on the policy, but believes that the general public will accept it with time and intensified education.
Adding on, the Chairman of the Association, Nana Kofi Boateng recalled that the Finance Minister, Ken Ofori Atta at a Town Hall Meeting on the e-levy across the country, mentioned that there was going to be a meeting with the Telcos to decide on the percentage to be paid to merchants.
According to Boateng, nothing has been heard from the Telcos and added that the Association is set to stage a demonstration to demand answers from the Telcos on the percentage to be paid to Mobile Money Operators.
Secretary of the Association, Ebenezer Donkoh Cobinnah, remarked that taxing a person’s capital will force them to withdraw from the business.
They recounted that there were no consultations whatsoever with Mobile Money Operators on whether the policy will enhance the business or not.
The Association observed that more people are on the path of losing their jobs as a result of low patronage of Mobile Money Services.
” There is a possibility to lay off some workers to be able to maintain the business. If an investor is losing money and not making profit, that investor will be forced to fold up the business leading to unemployment in the country,
