NEWS

Mobile Money Agents Association Calls on Government to Revise E-Levy Charges

The Mobile Money Agents Association of Ghana has reiterated its call for the government to reassess the rates of the Electronic Transfer Levy, commonly known as the E-levy.

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This appeal comes amid ongoing discussions on financial inclusion at the 3i Summit in Accra.

Introduced in 2022 as part of the government’s efforts to enhance domestic revenue mobilization, the E-levy has faced criticism. Initially set at 1.75 percent, it was later reduced to 1.5 percent and then further decreased to 1 percent.

In an interview with Citi News, Evans Otumfuo, the General Secretary of the Mobile Money Agents Association of Ghana, emphasized the importance of a further review of the levy. He highlighted increased usage of mobile money platforms following previous rate reductions, suggesting that a further reduction or elimination of the levy would enhance its value.

Otumfuo emphasized that the Association’s advocacy for an E-levy review aims to bolster financial inclusion, particularly in the digital era. He stressed the importance of policies that foster the uptake of financial products and transactions.

He further expressed opposition to taxing mobile money, citing concerns that such levies could deter consumers and hinder sector growth.

The Mobile Money Agents Association of Ghana is urging the government to consider reducing or eliminating the E-levy to promote financial inclusion and facilitate the adoption of digital financial platforms.

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