Panic withdrawals have hit the Mobile Money (MoMo) industry in the last few days, Ken Ashigbey, the Chief Executive Officer of the Ghana Chamber of Telecommunications has disclosed.
According to him, the massive withdrawals from several wallets is happening since Parliament passed the Electronic Transaction Levy (E-Levy) on Tuesday, March 29, 2022.
Speaking to Asaase Radio in an interview, Ken Ashigbey said, “Massively, people are withdrawing from the MoMo and it makes the whole thing complicated.”
In his view, government should have listened to the cries of the Ghanaian people who have been against the introduction of the controversial levy.
He said the tax is multiplicative and not in the interest of the common person.
“I actually don’t know why the government wouldn’t at least want to listen to the people. Because this is not NDC, NPP; this is a cross-section by the whole population, which is not willing to pay this type of tax which is multiplicative and it is not in the interest of the common man,” Ken Ashigbey added.
Meanwhile, President Nana Addo Dankwa Akufo-Addo on Thursday, March 31, 2022, assented to the Electronic Transaction Levy into law.
The implementation of the levy will commence in May 1, 2022, according to Finance Minister Ken Ofori-Atta.
