Telcos to reduce mobile money transfer charges to 25%

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Telecommunication Companies MTN and Airtel Tigo have released a report indicating the reduction of person-to-person mobile money transfer by 25%.

Ghana Chamber of Telecommunications (GTC) has decided to reduce the E-levy imposed on electronic transactions.

The finance minister, Ken Ofori-Atta introduced a 1.75% E-levy that will be placed on electronic transactions during the presentation of the 2022 budget.

This E-levy has become an issue in the country since introduced and it’s now in the Parliament waiting for approval

The Telecommunications Chamber released a report on Friday evening, December 17, 2021, that they doing a discussion on the E-levy with the mobile money operators, Airtel Mobile Commerce (Airtel Tigo Money), Mobile Money Limited (MTN MoMo), and Vodafone Ghana Financial Services Limited (Vodafone Cash).

“We have also engaged with various stakeholders on the issue. We have had extensive deliberation with the government on the need to lessen the impact on our consumers. We acknowledge the need to expand the tax base. However, to reduce the overall impact of the new levy on consumers, MTN and AirtelTigo have agreed to a downward revision of their P2P (person to person transfer) fees by up to 25% depending on the respective operator. Vodafone currently has no charges.

“Each operator would notify their customers of the applicable revised rate when the e-levy bill is passed into law. Our customer service centers would be ready to provide customers assistance during the implementation of the e-levy.

“We pledge our continued support to our customers and would continue to deliver innovative products and service that would ensure the convenience of the digital financial platforms and support the national digital transformation effort”, the statement assured.

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