E-levy abolition to boost mobile money business – MoMAG President 

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By Deborah Asantewaah SARFO

President-Mobile Money Advocacy Group (MoMAG), Edward Ofori Agyemang, has welcomed government’s promise to abolish the E-levy – indicating that the decision will boost businesses of mobile money agents.

He noted that as an association with the interests of its members at heart, the E-levy remains one of the key issues they are concerned about considering its implications on mobile money agents; hence, abolishing it will enhance their business.



Mr. Agyemang explained that introducing the E-levy discouraged customers from depositing money into their mobile money wallet, adding that this new development within the space will change the narrative.

“Now government is going to abolish it, so we are excited about that. And it is going to enhance our business to go on, because before the E-levy introduction people did come to agents and depodsit money on their wallets and then send it through their wallets. But when they introduce the E-levy, customers asked agents to send the money directly to the recipient,” he said.

He shared his views on the current government’s promise on E-levy when speaking with journalists at the swearing-in of the association’s new national executives held under the theme ‘Unity and Transformation’.

The ceremony brought together key stakeholders in the industry who converged to witness the president’s swearing-in together with his vice, secretary and six other individuals who constitute the current national executive body of MoMAG.

While he recognises the importance of taxes in developing the country, he advised subsequent governments to ensure that every tax policy they implement will not have a toll on citizens as this will deter their willingness to pay taxes.

Addressing the members of MoMAG, the Bank of Ghana Director of Fintech and Innovation, Kwame Oppong, emphasised the collective role of all stakeholders in driving the sector’s growth.

He also commended leadership of the group for their resilience in identifying solutions to the numerous challenges they face, adding that “this is what we as a nation and Africans need more of”.

“Every year, time or meeting I have with you – through your executives or when you meet together like this – and I hear you having looked at the problems and challenges that you face and are determined to find solutions to those problems, I am inspired. I think this is what we as a nation and Africans need more of. Please, a round of applause to yourselves,” he noted.

To the new leadership, Mr.Oppong urged them to be diligent with their work so that on the day of accountability they can be proud of themselves and their contributions to the industry.

In his address, Mr. Agyemang outlined some initiatives to embark on in their four-year term of service: notably, the SSNIT scheme (Tier 1) together with the Pension Scheme (Tier 2) for members to secure their financial future. These initiatives, he added, demonstrate their commitment to supporting member’s financial well-being and security.

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