• Wed. Aug 10th, 2022

MoMo transactions reach GHS75bn for Jan. – Ursula Owusu

Minister of Communications, Mrs Ursula Owusu-Ekuful has revealed that mobile money transactions totaled GHS75 billion across the country between Saturday, January 1 and Monday, January 24, 2022.

Mrs Owusu-Ekuful made the announcement at a town hall gathering in Koforidua on Thursday, January 27, 2022, to debate the government’s proposed e-levy.

While speaking at the government’s townhall meeting in Koforidua on Thursday January 27, she argued that the E-levy should be included in the 2022 budget statement because “it is no longer a luxury, it has become an indispensable tool for transacting any kind of business, it is not just for entertainment, it is a working tool, it is your bank in your pocket, it is your office in your pocket, it is your source of correspondence, among other things.”

“The overall value of transactions was estimated to be over GHS500 billion compared to GHS257bn in 2019 and only GHS79 bn in 2016 , just five years ago:”.

“Today, as we speak, and we have the data for mobile money transactions from 1st to 24th January, 333M plus Mobile Money transactions have been conducted just this year alone, from 1st to 24 January and the value of over GHS 75 billion cedis has been transacted just for this year alone and the month has not even ended. I don’t have the comparable figures for the banks.”

Mrs. Owusu-Ekuful also stated that unless Ghana weans itself from relying on international help, foreigners will continue to control the country’s growth pace.

She added that in order for Ghana to be really independent, it would have to enhance domestic income mobilization in order to carry out the necessary development.

”So long us we depend on loans they will dictate the pace of our developments. We need to find the way to increase domestic revenue mobilisation,”

“We are talking about a Ghana beyond aid, we need to be able to finance our own development and stop the dependence on either loans or grants or aid from other countries if we are to be truly independent.”

The Townhall Meeting is part of the government’s stakeholder engagement process for the E-levy project.

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