Edward Ofori Agyemang, the President of the Mobile Money Advocacy Group (MoMAG), has expressed strong support for the government’s decision to abolish the E-levy, stressing that the move will significantly benefit mobile money agents in the country.
Agyemang highlighted that the introduction of the E-levy had deterred customers from depositing money into their mobile wallets, opting instead to send money directly to recipients, a practice that affected mobile money agents’ business operations.
Speaking at the swearing-in ceremony of MoMAG’s new national executives, Agyemang noted that the abolition of the E-levy would help restore customer confidence in the mobile money system and enhance the business environment for agents. “Before the E-levy introduction, people came to agents to deposit money into their wallets and then send it through their wallets. But when they introduced the E-levy, customers started asking agents to send the money directly to the recipient,” he explained. The E-levy had become a major concern for MoMAG and its members, and Agyemang welcomed the government’s decision to address it.
The ceremony, which was held under the theme “Unity and Transformation,” saw the swearing-in of the association’s new president, vice president, secretary, and six other members of the national executive body. It also gathered key stakeholders in the mobile money industry. While Agyemang acknowledged the importance of taxes in national development, he advised future governments to ensure that tax policies do not negatively affect citizens’ willingness to pay taxes.
During the event, Kwame Oppong, the Bank of Ghana’s Director of Fintech and Innovation, praised MoMAG for its resilience in identifying and addressing the challenges faced by mobile money agents. He encouraged the new leadership to continue working diligently and to find solutions to industry problems. “Every year, time or meeting I have with you, I am inspired by your commitment to solve the issues you face. This is exactly what we need as a nation and as Africans,” Oppong stated.
Agyemang also outlined some key initiatives for MoMAG during its four-year term, including the implementation of a SSNIT pension scheme (Tier 1) and a Pension Scheme (Tier 2) to secure the financial future of members. These initiatives, he said, reflect MoMAG’s dedication to improving the financial security of its members.
