{"id":146389,"date":"2025-09-19T00:30:10","date_gmt":"2025-09-19T00:30:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/146389\/"},"modified":"2025-09-19T00:30:10","modified_gmt":"2025-09-19T00:30:10","slug":"mobile-money-business-is-booming-and-improving-after-e-levy-was-scrapped-momag","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/146389\/","title":{"rendered":"Mobile money business is booming and improving after E-Levy was scrapped \u2013 MoMAG"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Mobile-money-business-is-booming-and-improving-after-E-Levy-was-scrapped-MoMAG-2001338?gallery=1\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/09\/40109969.295.jpg\" alt=\"Mobile money vendor attending to a customer\" title=\"Mobile money vendor attending to a customer\" width=\"295\" height=\"188\" \/> <\/a>Mobile money vendor attending to a customer<\/p>\n<p id=\"article-123\">The Mobile Money Advocacy Group (MoMAG) Ghana has reported a significant resurgence in business activities following the repeal of the Electronic Transfer Levy, or E-Levy.<\/p>\n<p>According to General Secretary of MoMAG, Kingsley Amoako-Atta, the move has brought a welcome relief to agents and stakeholders, reversing the negative trends that plagued the industry during the implementation of E-Levy.<\/p>\n<p>In an interview with Nyankonton Mu Nsem on Rainbow Radio 87.5FM, Amoako-Atta explained that the E-Levy\u2019s introduction created a hostile environment for the mobile money business.<\/p>\n<p>The levy led to increased operational costs for agents, sparked widespread panic withdrawals, and threatened the financial viability of many operations.<\/p>\n<p>He noted that in 2022, when the E-Levy was enacted, many agents saw a sharp decline in business, with some even abandoning their ventures due to the burden of multiple deductions on transactions.<\/p>\n<p>Since the levy\u2019s removal, Amoako-Atta says the sector has experienced a strong rebound.<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Over-25-million-active-MoMo-accounts-recorded-in-Ghana-BoG-2001304\" rel=\"nofollow noopener\" target=\"_blank\">Over 25 million active MoMo accounts recorded in Ghana \u2013 BoG<\/a><\/p>\n<p>This positive trend is supported by recent data from the Bank of Ghana (BoG), which shows a healthy and growing mobile money ecosystem.<\/p>\n<p>According to the BoG\u2019s latest Summary of Economic and Financial Data, mobile money transactions reached GH\u00a2354.1 billion in August 2025.<\/p>\n<p>Although this figure was a slight decrease from the GH\u00a2355.4 billion recorded in July, the overall number of transactions increased to 831 million in August, up from 778 million the previous month.<\/p>\n<p>Amoako-Atta attributes this growth to a combination of high mobile penetration, an expanding agent network, and the inherent convenience of mobile platforms, all of which were previously undermined by the E-Levy.<\/p>\n<p>\u201cThe introduction of the E-Levy was troubling,\u201d he stated. <\/p>\n<p>\u201cBut since it was scrapped, I can confidently say that it has positively impacted our business activities. Mobile money transactions have improved, and the Bank of Ghana\u2019s data confirms this significant increase.\u201d<\/p>\n<p>Watch the latest edition of BizTech below:<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Mobile money vendor attending to a customer The Mobile Money Advocacy Group (MoMAG) Ghana has reported a significant&hellip;\n","protected":false},"author":2,"featured_media":146390,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[2306,86,56,54,55],"class_list":["post-146389","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-mobile","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/146389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=146389"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/146389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/146390"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=146389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=146389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=146389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}