73.84 Percent of Ghanaians to Quit Using MoMo Because of E-Levy

Out of the results from 3,720 respondents during an online poll conducted by GhanaWeb, 973 people, representing 26.16% have decided to continue to transact money via electronic money transfer method despite the 1.5% E-Levy.

GhanaWeb’s survey found out that over 2,600 people out of the total respondents will stop using Mobile Money (MoMo) transactions following the passage of the E-Levy.

Meanwhile, 129 people representing 3.47% who took part in the poll were still indecisive whether or not they will transact money through the use of electronic means.

The inception of the E-Levy was announce by the Finance Minister, Ken Ofori-Atta, during the 2022 budget reading in parliament, on November 17, 2021.

Formerly, the tax was to be 1.75% on all electronic money transactions but the E-Levy bill was subsequently withdrawn from parliament and currently, it has been reviewed downwards to 1.5%.

According to the financial Minister, the introduction of the levy forms part of strategies to broadening the tax net of the country, enhance financial inclusion and protect the vulnerable in the country.

Meanwhile, the bill was passed by the majority in Parliament on Tuesday, March 29, 2022 despite the controversies and unacceptable response from the minority in parliament.