The Mobile Money Advocacy Group Ghana (MoMAG) has urged the government to reassess the Electronic Levy Bill in response to the recent drop in Mobile Money (MoMo) transactions across the country.
This appeal follows a Bank of Ghana report showing a decline in Mobile Money transactions from 668 million in May 2024 to 644 million. This drop also led to a decrease in the total transaction value, falling from GHS 234.3 billion to GHS 224 billion.
In a statement dated July 30, MoMAG outlined several factors contributing to the decline, including the e-levy on Mobile Money transactions, double taxation on income, fraud, robbery, and economic hardship.
To address this issue, MoMAG urged authorities and Electronic Money Issuers (EMIs) to review the E-Levy policy, improve security measures, and implement economic policies that support the industry.
