Summary of Economic and Financial Data by the Bank of Ghana

Despite the implementation of the Electronic Transaction Levy (E-Levy), total Mobile Money transactions in the first 10 months of 2022 grew by 12.9% year-on-year to ¢833.3 billion, the latest Summary of Economic and Financial Data by the Bank of Ghana has revealed. It’s therefore baffling why the government cannot accrue significant revenue from the tax on electronic transfers, despite the immense growth in mobile money transactions. In October 2021, total mobile money transactions were estimated at ¢737.6 billion. Comparing that figure to the same period in 2022, the transactions have shot up by an additional ¢95.7 billion. A recent survey…