Mobile Money Agents Run Out Of Cash On First Day Of E-Levy Implementation [Video]

Agents who operate mobile money business, otherwise known as MoMo, are seeking solutions to minimise panic withdrawals during the implementation of the Electronic Transfer Levy Act, 2022 (Act 1075) which starts yesterday.

Already, the agent network has managed to implement an educational campaign to reduce incidents of panic withdrawals by about half, since the passage of the Act.

However, the agents are requesting logistical and financial support from the government and the telecommunication companies (telcos) to intensify the education and sustain the efforts to reduce the ‘bank run’ to the barest minimum.

The Mobile Money Agents Association of Ghana (MMAAG), on April 19, 2022, wrote to the ministries of Finance, Information, and Communications as well as the Ghana Revenue Authority (GRA), seeking an opportunity to engage and explore various avenues that could drive positive education for the levy.

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