Research shows a 24% drop in Mobile Money after introducing E-levy

The Deputy Finance Minister, Dr. John Ampontuah Kumah, has predicted that there will be a 24% drop in Mobile Money transactions should the E-levy be introduced. 

According to the Minister, the research was conducted by the government so the government is very much aware of the possible drop in Momo transactions but is adamant since jobs will not be lost.

While speaking at CitiTV, Dr. Kumah added that the said research not only provided possible challenges but also the results provided ways and means of recapturing the lost percentage

“The research we did also told us that there will be about 24 percent attrition rate in the three months to six months that we will introduce it.”

“The research same told us what should be done to bring back these people after a while, and we have all these things in place,” he is quoted as having said.

According to him, the government has realized that a lot more education is needed to have the buy-in of Ghanaians before the passage and implementation of the controversial E-levy.

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“It is a matter of engagement and letting people understand that, don’t avoid it. It is your pride of place as a Ghanaian to know that your contribution is helping to build your country.”

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Meanwhile, the minority in parliament, interest groups such as the Mobile Money Association, Civil Society Organisations, majority of Ghanaians, and analysts are opposed to the passage of the Bill, saying it will worsen the already unbearable living conditions of the citizenry.

The E-levy has been a subject of controversy since its introduction in the 2022 budget presented by Finance Minister Ken Ofori Atta in November last year.

The NDC minority caucus in parliament has remained resolute in its efforts to ensure the Bill doesn’t see the light of day, while the government and the majority side of the house are bent on pushing it through.

The adamant posturing of both sides of the legislature resulted in violence late last year which saw the lawmakers exchange blows, leaving some of them injured.

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