Sunday, 25 February

A/R: E-levy passage triggers instant mad rush for MoMo withdrawals

Business
Momo vendors

Massive withdrawals have hit the various mobile money vending outlets in the Ashanti Region after the passage of the electronic transaction levy (e-levy) by Parliament on Tuesday, 29 March 2022.

Some mobile money vendors who spoke to Class News’ Ashanti regional correspondent, Elisha Adarkwah, today, Wednesday, 30 March 2022, said the withdrawals mad rush started on Tuesday, right after parliament passed the e-levy bill.

According to the vendors, the majority of those who have come to transact business with them are making withdrawals.

The vendors fear the e-levy can collapse business if the President assents to the bill in the coming days.

Some people admitted to Elisha Adarkwah that they went to withdraw their money solely because of the passage of the bill.

Some customers, Elisha Adarkwah reported, cashed out as much as GHS5,000 from their e-wallets.

The vendors have, thus, called on the government to exempt mobile money transactions from the e-levy

 

 

Source: Classfmonline.com/Elisha Adarwah