E-Levy: Give us soft loans as capital – MoMo Agents to government

Mobile Money Agents in Ghana are pleading with the Government to give them soft loans as capital to invest in their business moving forward.

Their request comes following the passage of the controversial E-levy.

The E-Levy was passed, the Minority on Tuesday, March 29, 2022.

Speaking on Atinka TV‘s morning show, Ghana Nie with Ama Gyenfa Ofosu Darkwa, the Public Relations Officer (PRO) of Mobile Money Agents Association of Ghana, Mr Charles Kwasi Addo acknowledged that government had reduced its initial proposal which was 1.75 per cent to 1.50 per cent after broader consultations.

He said although the Momo Agents were not supportive of the E-levy, they have accepted its passage.

However, he said their capital has reduced and are unable to go for loans because the rates are very high.

Mr Charles Kwasi Addo, therefore, called on government to help the momo agents with soft loans so that they will serve the customers well in order for government to generate its estimated revenue.

“What we want to tell the government is that if the E-Levy has become a law, we are the ones that invest our monies into it and we want government to understand that the money we use has reduced and when we go to the banks for loans, the rate is very high. So, if the government wants to achieve the estimated revenue of 6.9 billion, we will plead with the government to first give us with some soft loans with low interest rates. If we get the soft loans, and we are able to serve the customers well, it will help increase the transactional volume,” he said.



He added that the E-Levy will only become visible when the transactional volume increases, adding that, “You will able to get the money if people use the mobile money a lot, but if we go for the money and the rate is high and we are unable to serve the customers well, then the government may not get the estimated figure.”

Meanwhile, Mr Charles Kwasi Addo said if they do not get the soft loans, they may withdraw their monies and venture into other businesses.