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Govt to block Mobile Money cashout over panic withdrawals?



Govt to block Mobile Money cashout over panic withdrawals? 56



Following the increase in Mobile Money panic withdrawals after the passage of the electronic transfer tax popularly known as e-levy, the government is reportedly looking for a way out of the conundrum. 

A lot of people who have their money kept on their Mobile Money Wallet have begun and are still withdrawing their money following the passage of the controversial E-levy according to the Mobile Money Agents Association of Ghana (MMAAG).

The government is therefore being urged to find a way to limit the massive cashout lest the purpose of the e-levy is defeated.

The CEO of the Ghana Chamber of Telecommunications, Ken Ashigbey was the first to suggests a solution be found quickly for the problem.

He also confirmed that indeed there has been an enormous withdrawal of money from various mobile money wallets since the approval of the Electronic Transaction Levy (E-Levy).

On Joy news, Ashigbey argued that government must ensure persons who have money in their wallet keep it there.

Again on Asaase, he bemoaned :

“Massively, people are withdrawing from the momo and it makes the whole thing complicated. 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,” he told Asaase.

Sources say the government is strongly considering ways and means to check the situation including the re-introduction of strict limits for withdrawals within the period.

The passage of the e-levy is expected to see Banking halls become full once again as in the days past.

Meanwhile the e-levy is expected to kickstart in May 2022.