According to the Summary of Economic and Financial data (March 2022) published by the Bank of Ghana, the mobile money platform which is the largest payment system network in the country – seen as the main driver of financial inclusion – saw its transaction value decline to GH¢76.2billion in January 2021 from the GH¢86.1billion recorded in November 2021 (the very month the E-levy was announced), indicating a drop of GH¢9.9billion. The platform has never seen such a colossal decline in value over the space of any two months within a year ever since it was introduced.
Besides the drop in value on the platform, the total number of transactions also went south as it saw a 24 million decline in January 2022 from November 2021. The number of active agents also saw a decline of 7,000 within the same period, while active mobile money accounts also decreased by 600,000 in the period under discussion.
E-levy Implementation Systems Could Be Ready In May – Ofori-Atta
All these declines experienced since November 2021 when the E-levy was announced by Finance Minister Ken Ofori-Atta point to one conclusion – that users of the mobile money platform are not ready to pay the proposed tax and may have resorted to cash options. Meanwhile, that is the platform government has targetted and budgeted to get a chunk of the E-levy from.
In Other News Western Regional Minister burdened, reinstall Hon. Abdul Mummin Issah- Hon. Sampson K.Assembly Member Asafo Electoral Area to Prez.The Assembly Member for Asafo a community in the Sekondi-Takoradi Metropolitan Assembly Hon. Sampson K Nimako Darko is appealing to President H.E Nana Addo Danquah Akuffo-Addo to reinstall the Suspended Mayor for the STMA Abdul Issah Mummin to help stir the affairs of the assembly.
Speaking exclusively to Host Matilda Youpele on Beachfm this morning, Hon. Sampson K says that the acting Mayor Hon. Kwabena Okyere Darko who also doubles as the Western Regional Minister and Member of Parliament for Takoradi is burdened with too many responsibilities resulting in delays in some developmental works in the assembly.
According to him, the suspension of the Mayor has and is affecting work in the assembly, and is calling on the president to as a matter of urgency reinstall Hon. Abdul Mummin Issah.
