E-Levy won’t destroy your business – Ursula Owusu assures MoMo merchants

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People who work with Mobile Money (MoMo) have been told that the Electronic Transactions Levy (E-Levy) will help their businesses grow and not kill them.

The assurance comes after the MoMo operators were worried that the e-levy would hurt their business, sabotage the country’s cashless goal, and cut jobs.

E-levy 1.75 percent: This tax would be levied on all transactions made with mobile money as well as bank transfers, payments to merchants, and remittances from abroad.

The MoMo operators have asked the Minority in Parliament about the e-levy, which was suspended last year because of public outcry over how it was being used. The e-levy will be brought back to the House this year.

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During the government’s Town Hall meeting on Thursday, the Minister for Communications and Digitalization, Mrs. Owusu-Ekuful, said that they could be sure that the government would protect their businesses from the e-levy.

The Ablekuma West Legislator said: “I can say confidently to the MoMo operators that we’re working to grow your business and not destroy it.”

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They should “work with us to get this tax passed as well,” she said. “The result that we got from the Communication Services Tax, which clearly didn’t kill the industry, will also be seen after this levy is put into place.”

With all of us working together, she said it was important to pass the e-levy so that “digital financial services become the norm as we strive to become a cash-less society,” which is why the e-levy must be passed.

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