The Mobile Money Advocacy Group Ghana (MoMAG) has called on the government to review the Electronic levy bill to curb the recent decline in Mobile Money(MoMo) transactions in the country.
This appeal comes after a report from the Bank of Ghana indicated that, the total number of Mobile Money transactions decreased from 668 million in May 2024 to 644 million posing a significant drop in the total value of transactions from GHS 234.3 billion to GHS 224 billion.
However, MoMAG in a statement dated July 30, outlined some reasons attributing to the decline which include, E-levy on Mobile Money transactions, double taxation on income, fraud, robbery, and economic hardship.
Addressing this issue, MOMAG urged the authorities and Electronic Money Issuers (EMIs) to consider reviewing the E-Levy policy, enhance security measures, and promote economic policies that support the industry.