Don’t panic – MTN Mobile Money CEO sends good news to MoMo users and agents over 1.75% Tax

Mr. Elli Hini, the Chief Executive Officer of MTN Mobile Money has offered a glimmer of hope to MoMo subscribers and agents of MTN Mobile Money over the imminent 1.75%. 

Mr. Hini said a ‘powerful’ deliberation is ongoing between the telecos and government to make sure their customers are not gravely affected by the tax which has already agitated a lot of Ghanaians.

It would be recalled that Finance Minister Ken Yaw Ofori-Atta during the 2022 budget presentation in parliament on November 17, 2021, announced that the government will collect a new levy on electronic transactions in 2022 to broaden the tax net and bring in the informal sector.

“After much thought, the government has decided to impose a fee on all electronic transactions in order to broaden the tax net and bring in the informal sector,” he stated. This will be known as the E-levy (Electronic Transaction Levy).”

Mr Hini shared this during the MTN Mobile Money Awards held in Takoradi over the weekend adding the outcome of the discussions being held behind closed doors would be made public soon.

“The government has imposed the tax; we are actively engaging in discussions about it, and I believe I’ll leave it at that.” “We’ll all get to hear whatever the verdict is,” he remarked.

Mr Hini assuaged any concerns that agents might have about the new levy’s introduction. MTN Mobile Money, he said, will look into ways to assist agents in growing their companies.

“I don’t believe agents should be concerned. Agents should not be alarmed because there are possibilities for collaboration to discuss the business’s future. I’m confident that at the end of the day, the outcome will be known, and the measures required to ensure their continued operation will be implemented.

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