MoMo transactions reach over GH¢75 billion in January 2022 - Ursula Owusu

Value of MoMo hit high levels for January 2022

E-Levy to improve revenue generation, Ursula-Owusu

Government holds major town hall meeting on E-Levy

The value of Mobile Money transactions in the country from January 1 to January 24 this year reached over GH¢75 billion.

This is according to Communications and Digitalization Minister, Ursula Owusu-Ekuful.

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Speaking at a town hall meeting on the Electronic Transaction Levy on Thursday, the minister said, “Today, as we speak mobile money transactions from 1 to 24 January 33 million transactions have been conducted this year [2022] alone amounting to a value of over GH¢75 billion.”

She justified that the E-Levy, if approved, will assist government to improve its revenue generation and widen the tax net with a focus on roping in the informal sector.

“We need to finance our developmental agenda and stop depending on loans and borrowings from other countries if we are to be truly independent,” Owusu-Ekuful said.

Meanwhile, government on Thursday afternoon held a major Town Hall Meeting on the Electronic Transaction Levy (E-Levy).

The meeting forms part of a series of engagements aimed at explaining the basics and importance of the E-levy transaction as well as taking feedback and inputs from relevant stakeholders that will inform government on the implementation of the levy.

The E-levy is a new tax measure introduced by government in the 2022 Budget on basic transactions related to digital payments and electronic transactions aimed at widening the tax net and increasing revenue.

The measure, if approved would place a charge of 1.75% on all electronic transactions that are more than GH¢100 daily (24 hours).