Tag: momo
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Telcos to implement 1% E-Levy charge from today
The Ghana Chamber of Telecommunications says it will commence the implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% from today, Wednesday, January 11, 2023. The government presenting the 2023 Budget and Economic Policy Statement, reviewed the 1.5 percent electronic transaction levy downwards to 1 percent effective January 2023. The reduction has also…
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New deadline for SIM re-registration too short – MoMo agents association
The Mobile Money Agents Association has said the two months extension announced by the government is not enough time to guarantee that all Ghanaians would re-register their SIM cards. According to the association, the challenge for many registrants is their inability to access their Ghana Cards. In an interview with Citi News, the Secretary of…
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MTN apologizes for disruption in MOMO services
Telecommunications giant MTN Ghana has apologised to its customers for disruptions in mobile money and internet bundle services. Some MTN users took to social media to complain about challenges in accessing mobile money services across the country. Others complained about simply being unable to use their MoMo services, while some were also complained about being…
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2022 Budget: 1.75% tax imposed on MOMO, other electronic transactions
As part of efforts by the government to rake in more revenue for the country, government has slapped a 1.75 per cent levy on mobile money and other electronic transactions that exceed GH¢100 per a day. The levy called ‘Electronic Transaction Levy or E-Levy’ is contained in the 2022 budget. Delivering the 2022 budget statement…
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‘Only’ two million taxpayers in Ghana not enough – Deputy BoG boss
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari says it’s unsustainable for only two million taxpayers to carry the tax burden of the over 30 million Ghanaian population. Even though there are over 16 million users of the various mobile money platforms indicating financial activity for which taxes should be filed,…
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Digital payments: Stakeholders call for collaboration among industry players
The Bank of Ghana has urged private players in the digital payments industry to collaborate with each other in order to further boost the penetration of electronic payments in the country. Despite mobile money service’s significant contributions to Ghana’s financial inclusion drive, cash transactions still remain a dominant base of the local economy. Speaking at…
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We’ll comply with 10% tax directive but give us two months – MoMo agents
The Mobile Money Agents Association of Ghana has revised its position on the impending 10% tax on cash-out commissions of its members. The association after indicating earlier that it will transfer the cost onto customers says it wishes to further engage with the Ghana Revenue Authority (GRA) on the implementation of the tax. Leadership of…
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Volume and value of MoMo transactions will keep rising – Banking Consultant
A Banking consultant, Nana Otuo Acheampong, says the significant surge in the volume and value of mobile money transactions in the first 8 months of the year, should continue unabated in the last quarter of 2020. The volume and value of mobile money transactions from January to August of 2020, increased by 41 percent and…
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Containing COVID-19: BoG removes charges for some momo transfers, adjusts limits
The Bank of Ghana has announced that electronic transfer of money of up to GH¢100 will not attract any charge from March 20, 2020. In a statement, the Central bank said the decision however excludes cash out transactions on the same network or to different networks. According to the Bank of Ghana, the move is…