PRESS RELEASE
DATE 21st March , 2024

We hope this message finds you well.
The Agent Bankers Association of Ghana 🇬🇭 and the entire Momo Agents across the nation write to draw attention to the management of GRA about the negative effects and how the 1% levy on the agent sim has totally collapse the mobile money business in the country .
The 🆕 1% E-Levy has made all agents to be paying double taxes in addition to the already existing taxes paid by the telcos and banks on behalf of all agents.

Many agents across the length and width of the country have closed down their shops due to the hardship of the 1% levy on the Agent sim.
Agents push money from their wallets to Bank and vice versa in order to get physical cash to serve customers and this is known as Push and Pull.

The 1% Tax on this push and pull has made agents not to be able to load and off load their bank account in returns of physical cash to serve customers.
The 1% tax is extremely above the percentage % commission agents are paid by the telcos as well as the banks on their transactions .

CASE STUDY

A customer walks to an agent for withdrawal of Gh 5,000 . The customer is being charged Gh 20 and the agent earn Gh 8 on the cash out made .
The agent load Gh 5000 to his bank account for physical cash .
Now GRA charges the Agent 1% E levy , which is Gh 50 on that push and pull. On this notice the agent gain Gh 8 commission and pay a tax of Gh 50 .
The agent then loses Gh 42

In this case, we are drawing attention to the Management of GRA to kindly be of help to take off the 1% tax on the agent sim , since it is a tax on our working capital and not on our commission.

It is our hope that the authorities concern including GRA will withdraw the 1% tax on the agent sim .

Thank You
OSMAN Mohammed Hussein
General Secretary

Copied
1.All media Houses 2.Ministry of Finance 3.Bank of Ghana 🇬🇭4.Ghana Chamber of telecommunications 5.ElectronicMoney issuers EMI’s. 6.Ghana Revenue Authority GRA

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