'E-Levy has resulted in significant hardship' - Evans Otumfuo

The General Secretary of Ghana Mobile Money Association, Evans Otumfuo, has said the implementation of the Electronic Transfer Levy (E-Levy) has caused more harm than good to Ghanaians. According to him, the introduction of levy has resulted in significant hardship on Ghanaians of which members of the Ghana Mobile Money Association are no exception. Evans Otumfuo stated that the mobile money business has recorded a decline in income, thereby, leading to the sacking of employees to stay in business. He, therefore, called on government to scrap the E-Levy for both MoMo business operators and customers to heave a sigh of relief. Speaking on Rainbow radio's Nyankonton Mu Nsem, the General Secretary of Ghana Mobile Money Association said, “Nobody can deny that the E-Levy has had a negative impact. It has resulted in a significant hardship. Several of our members have had to lay off employees. We are unable to grow. Our profit margins have shrunk. Those of us who are still in business are unable to expand or open new locations. If someone asks if we want it scrapped, we will say yes." Government, in March 2022, imposed a 1.5% charge on all electronic transfers above GH¢100. The tax policy, according to Finance Minister, Ken Ofori-Atta, is a move by the government to widen the country's tax net. Watch the latest episode of BizTech below: ESA/DA