E-levy: Panic withdrawals aren’t high – Govt’s Spokesperson on Security

Government Spokesperson on Governance and Security, Mr Palgrave Boakye-Danquah has said the panic withdrawal from Mobile Money (MoMo) accounts following the approval of the e-levy was expected.

He however, said the withdrawals are not in the highest of percentages.

The e-levy policy was approved by a one-sided Parliament on Tuesday March 29 after the minority staged a walkout.

President Akufo-Addo on Thursday March 31 assented to the bill into an Act on Thursday March 31.

Mobile Money agents indicated that they suffered panic withdrawals following the approval.

The General Secretary of the Mobile Money Agents Association of Ghana (MMAAG), Mr. Evans Otumfuo attributed this situation to the lack of education on the policy.

“The panic response form our customers is very disturbing but then we understand them because there had been lack of education,” he told 3FM on Friday April 1.

But speaking on the New Day show on TV3 with Johnnie Hughes on Tuesday April 12, Mr Boakye-Danquah said “That panic withdrawal, even the Minister has stated that it is expected that people would go and panic withdraw.

“But it is not in the highest of percentages as you will think. Because this digital platform and this online business has come to stay. At the back bench is what we need not to lose sight of is, we are expanding the tax bracket of having 2.3million people who contribute income tax on a regulars basis to the upper echelon of the 18 million people.”


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