The finance Minister Honourable Ken Ofori-Attah in the 2022 Budget and Economic Policy presented to Parliament and the General public on November 17, 2021, has revealed that Government wants to impose an Electronic levy of 1.75% on all electronic transactions with Mobile Money being the cardinal and source of funding for the 2022 budget.
The Mobile Money Agents Association of Ghana has actioned a number of steps to draw authorities attention to the extensive complications the budget will bring on economic activities including appointments with the Vice-president of the RepublicofGhana, Bank of Ghana, Ministry of Finance etc. As an Association whose services are universal and as such play key role in the day-to-day running of economic activities in the country. In simple terms, the services of Mobile Money Operators are the life wires of business growth and development. High taxation on the momo sector will affect everything hence authorities must allow the business to grow.
Disclosing to MMAAG News, the Executive Secretary, Mr.Evans Otumfuo has said the Union believes that any other workers groups and unions need Mobile Money to Foster their daily activities hence any attack on Mobile money sector through unfavourable tax policies could be inimical to the smooth running of their businesses hence the Union is rallying the support of all relevant workers Unions Like GUTA, AGI,TUC,Association of Bankers, Spare Parts Dealers Association, Phones and Accessories Dealers a joint approach to the matter.The e-levy if passed in its current state will be affront to effort made so far to ensure bridging the gap between the banked and unbanked. Again, government’s Digitalisation Agenda hinges on electronics and by extension Mobile Money which if not reviewed, will only be a mirage.
He has disclosed that in a way the policy announcement has really hurt their businesses and a further acceptance to the budget will not mean well for the business growth and development.
MMMAAG news will be following this development to the later and subsequent updates given .