Majority Chief Whip Rockson-Nelson Dafeamekpor has strongly rejected any comparison between the proposed charge on mobile money to bank transfers and the Electronic Transfer Levy (E-Levy). He stated these two are fundamentally different in how they originate and their legal standing.
Mr. Dafeamekpor explained that the proposed fee is a service charge from a private entity. He stressed it is not a government-backed tax measure. This clarification comes after the Bank of Ghana suspended the planned 0.75 percent charge on direct wallet-to-bank transfers. The suspension followed significant public outcry and concerns from various stakeholders.
The lawmaker's comments address the ongoing debate and criticism from the Minority in Parliament. The Minority had questioned the initial announcement and the central bank's subsequent suspension. Mr. Dafeamekpor argued that the Minority's attempts to link the MoMo transfer fee to the E-Levy are purely for political propaganda. He emphasized that the charge has no legal basis from the government or any government agency. Therefore, it cannot be an E-Levy in any form.
This situation touches on the broader economic strategy of Ghana. The government has been seeking new revenue streams to manage public finances. The E-Levy, introduced in 2022 as a tax on digital transactions, was intended to boost government revenue. However, it faced widespread public opposition and did not meet revenue targets.
Mr. Dafeamekpor asserted, “Look, they are just trying to push that angle for the sake of propaganda because it is not E-Levy, not in form, not in character, not in nature at all.” He added, “It has no relationship with E-Levy. It is not an E-Levy; it is a levy that a private company intends to impose.” He further clarified, “I am saying that this is a service fee. It is never in the nature, character, and form of E-Levy. It is not backed by law, it is not sponsored by the government, and it is not sponsored even by a government agency.”
The proposed charge was slated to begin on June 1, 2026. It was intended for direct transfers from mobile money wallets to bank accounts. The Bank of Ghana's decision to pause the implementation allows for more discussions. Minority Leader Alexander Afenyo-Markin had criticized the suspension's rationale. He argued that significant policy changes should undergo parliamentary scrutiny first.
The suspension of the MoMo-to-bank charge has implications for digital financial services in Ghana. It highlights the sensitivity around new charges affecting everyday financial transactions. Decision-makers will likely monitor public perception and the response of financial technology companies. The distinction between government taxes and private company fees remains a key point of discussion.
Further consultations may lead to revised proposals or a different approach to regulating such fees. This event underscores the importance of clear communication and public engagement in fiscal policy matters. Ghana's ongoing efforts to boost tax revenue face continuous public and parliamentary scrutiny. The role of private sector influence in financial service pricing also comes into focus.