GhPageNewsE-LEVY: "Stop panic withdrawals from your MoMo accounts" - MoMo Agents to...

E-LEVY: “Stop panic withdrawals from your MoMo accounts” – MoMo Agents to Ghanaians

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Evans Otumfour, the General Secretary of the Mobile Money Agents Association, has stated that his organization will increase public education on the E-levy Bill in order to mitigate the rising number of panic withdrawals following Bill’s approval.

The reports of an increased rate of panic withdrawals, he claims, can be linked to a lack of public education about the Bill.

In an interview with JoyNews on Saturday, he said that if public education is improved, the general public will feel more secure and will continue to keep their money in their mobile wallets.

“What we’re doing now is, first of all, educating our members across the country as to the areas that the E-levy will be covering and those that the E-levy will not be covered so that, indirectly we’ll be using our various members as tools to educate the general public.

So, whenever someone comes into one of the shops to do any transaction, we’ll try to ask if they truly comprehend the E-levy.

Then then, we’ll be collaborating with the government to ensure that we go up there with a comprehensive education. Because we feel that if the schooling goes well, what we’re seeing now will not repeat itself,” he added.

Evans Otumfour made the remarks in response to panic withdrawals by a segment of the general public following the enactment of the E-levy Bill, which President Akufo-Addo signed on March 31, 2022.

Such individuals are concerned that the Bill will have an impact on the value of their funds in their mobile wallets, prompting panic withdrawals.

But, according to the General Secretary of the Mobile Money Agents Association, such fears are unfounded. Furthermore, the Levy will not affect a person’s money on his or her cell phone.

“Should one have money on his or her wallet, honestly, the levy is not going to impact you. The money could be in your wallet for over 10 ten years. E-levy is not going to affect you. If you’re doing a deposit into your wallet, E-levy is not affecting you.

If you’re going to cash money, E-levy is not affecting. So I think when we get down unto the streets and then we actually define the scope or the bracket that the E-levy is actually covering, it will help us to avoid what we’re currently witnessing”, he stressed.

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