The Electronic Transfer Levy was received with strong opposition from a variety of institutions and individuals across the country.
Despite the bill’s heavy resistance from the Minority in parliament, it was passed by the Majority in March 2022.
In order to escape the newly implemented charge, some citizens are creating ways and tactics to circumvent it.
Some people have reverted to old habits, such as keeping their money in their pockets to avoid paying the transfer charge.
Since the levy took effect on May 1, 2022, panic withdrawals from mobile money wallets have been observed in several sections of the country.
Despite the government’s numerous town hall meetings across the country, MoMo sellers attribute the poor patronage to a lack of public education about the E-Levy.
In a report by myjoyonline.com, a mobile money vendor in Kumasi, Samuel Prah, stated that the panic withdrawals had badly impacted his business and that he is considering resigning.
“People have been flocking here to withdraw money for the past two months and a few weeks. “I intended to leave the mobile money business,” he explained.
However, in order to regain his clients’ trust, Samuel has opted to explain the transaction procedure to them, which is having a positive impact.
“People were hesitant to store cash on their phones. I take the time to explain the transaction processes to them whenever they come here to withdraw. I’ve gradually been able to persuade a number of people to stop experiencing panic attacks.”
Osman Yakubu Iddrisu, a MoMo customer, told the reporter that he would prefer transfer money to his relatives by wrapping it in boxes than through the MoMo merchants to avoid the E-Levy.
“I will compare the charges before making any purchases.” If the situation does not improve, I shall turn to cash. He answered, “I can wrap the money in a piece of cloth and deliver it to the VIP station.”
He also noted that “allowing cash out on my phone wherever I am” was another technique to avoid paying the E-Levy. To withdraw the money, the receiver merely needs to be close to a merchant,” he explained.
Another MoMo user, Uncle Gilbert, said he has resorted to using cash for the past two days and has resolved to wrap money in a piece of cloth to deliver to his mother in the Volta Region whenever he has to send money over.
“I frequently send money to my relatives in Aflao. I do not send money via electronic means. I’ll put it in an envelope and hide it behind a piece of cloth. All I have to do now is phone and inform them that there is money inside. “I’m willing to take that chance,” he stated.
Even though the options people are considering appear to be risky, they are unconcerned since they are simply happy to avoid paying the fee.
Agnes Akosua Adu Boateng, the Ghana Revenue Authority’s Ashanti Area Director, believes public education on the E-Levy is needed to prevent further declines in MoMo transactions.
“Mobile money deposit, withdrawals, cash out, and savings on MoMo will not attract e-levy,” she explained to Ghanaians.