E-Levy Approval: 40% to use MoMo platform when necessary; 26% to withdraw funds
On the back of the approval of the controversial Electronic Transaction Levy (E-Levy) by Parliament and its subsequent assent into law by the President, 40% of Ghanaians have said they will use the mobile money (MoMo) platform “when it is absolutely necessary” to do so.
On the other hand, some twenty-six percent (26%) of Ghanaians say they will withdraw their funds from the MoMo wallets, indicating that they will no longer be using the platform.
Some 18% of the populace assert they will find alternatives to avoid paying the 1.5% E-Levy tax on MoMo transactions.
For 9% of Ghanaians, the 1.5% tax on MoMo transactions will not affect their usage of the platform for payment and receipt of money.
The above are findings from the survey of Ghanaian research firm, Global InfoAnalytics, with regards to the response of Ghanaians to the approval of the E-Levy.
The findings by InfoAnalytics support earlier reports of a drop of some GHS 10bn in the value of MoMo transactions by the Bank of Ghana.
According to the Bank of Ghana, from the announcement of the E-Levy by the Finance Minister in November 2021 to December 2021, the volume and value of MoMo transactions witnessed a huge decline, including a decline in the number of MoMo agents across the country.
With the findings of this survey and earlier surveys (prior to the approval of the levy), Ghanaians are clearly against the approval and passage of the E-Levy.
