Ghana’s mobile money operators will complete refunds for all Electronic Transfer Levy (E-Levy) charges applied on April 2 by April 7, according to an industry statement released Thursday.
The Electronic Money Issuers Chamber, representing five major mobile money providers, confirmed the timeline following the tax’s official abolition this week.
The refund process comes after President John Mahama signed the Electronic Transfer Levy (Repeal) Act on Tuesday, fulfilling a key campaign promise within his first 100 days in office. The Ghana Revenue Authority immediately instructed all financial institutions to cease collection of the controversial 1 percent transaction tax.
Mobile money platforms including MTN Mobile Money, AirtelTigo Cash, and Vodafone Cash have disabled their levy collection systems and begun processing refunds. GhanaPay, the bank-led mobile wallet service, along with commercial banks and payment service providers, are implementing similar refund procedures.
Industry sources indicate the technical transition has proceeded smoothly, with most institutions completing system updates within 24 hours of the repeal. The EMIs Chamber emphasized that additional safeguards have been implemented to prevent accidental charges, though customers are advised to verify transactions and contact provider call centers if discrepancies occur.
The levy’s abolition marks the conclusion of a contentious three-year policy that consistently underperformed revenue targets. Originally projected to generate 6.9 billion cedis annually, the tax collected just 1 billion cedis in its first year as consumers adapted behavior to minimize transactions subject to the charge.
Financial sector analysts note the efficient repeal process demonstrates Ghana’s maturing digital finance infrastructure. The coordinated response between regulators and financial institutions sets a notable precedent for fiscal policy adjustments in Africa’s rapidly digitizing economies. Mobile money penetration in Ghana exceeds 60 percent of adults, making transaction taxes particularly sensitive for financial inclusion efforts.
The refund timeline provides a concrete benchmark for assessing the operational capacity of Ghana’s digital finance ecosystem during policy transitions. As governments across Africa increasingly rely on mobile money systems for both financial inclusion and revenue generation, Ghana’s experience offers valuable lessons in balancing these sometimes competing priorities. The coming weeks will reveal whether this streamlined reversal can serve as a model for future digital fiscal policy adjustments in the region.
