{"id":1040089,"date":"2022-03-30T21:16:03","date_gmt":"2022-03-30T21:16:03","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/03\/30\/panic-withdrawals-hit-mobile-money-mmaag\/"},"modified":"2022-03-30T21:16:03","modified_gmt":"2022-03-30T21:16:03","slug":"panic-withdrawals-hit-mobile-money-mmaag","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/03\/30\/panic-withdrawals-hit-mobile-money-mmaag\/","title":{"rendered":"Panic withdrawals hit Mobile Money &#8211; MMAAG"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"522\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/03\/1648673322_829_image_2022-03-30_172258-696x522.png\"   alt=\"\" title=\"File photo: mobile money (MoMo)\"\/><figcaption class=\"wp-caption-text\">File photo: mobile money (MoMo)<\/figcaption><\/figure>\n<\/div>\n<p>A lot of people who have their money kept on their Mobile Money Wallet have begun withdrawing their money following the passage of the controversial E-levy.<\/p>\n<p>This is according the Mobile Money Agents Association of Ghana (MMAAG).<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>Some are expecting that the electronic wallet tax will kick off on 1st of April, 2022, but the Finance Minister, Ken Ofori-Atta, has mentioned May as the likely month for the implementation.<\/p>\n<p>Yesterday, Ghanaians were taken by surprise when the most debated electronic levy was passed by Parliament following Minority\u2019s walk out from the Chamber.<\/p>\n<p>The Public Relations Officer of the MMAAG, Charles Addo, speaking on Adom TV\u2019s Current\u00a0 Affairs show, <strong>The<\/strong> <strong>Big Agenda<\/strong>, said since the announcement, many have rushed to withdraw their monies from their MOMO wallet.<\/p>\n<p>He explained that the excuse people give is that they do not want their little money they have in the account to be taxed.<\/p>\n<p>\u201cSince the pronouncement that E-levy has been passed by Parliament, there is a mad rush for withdrawal and if it continues like this, most mobile money agents will be out of business,\u201d Mr Addo stated.<\/p>\n<p>He said due to the panic withdrawal, some banks have issued a caveat as to how much their clients can withdraw from their momo wallet a day just to keep the mobile money business running.<\/p>\n<p>\u201cYou see, if I say there is a panic withdrawal, yes it is, but as to how much is being withdrawn in a day depends on the area and the population but I can tell on authority that, from yesterday, daily withdrawal from momo has increased and due to that, most of our members are closing early than their normal time just to reduce the rate at which money is being withdrawn,\u201d he said.<\/p>\n<p>The Spokesperson for the Mobile Money Agents Association of Ghana added that now that the E-levy has been passed, they want government to give them some money to cushion them if not they will be compelled to lay off workers.<\/p>\n<p>\u201cIf government does not support us after the electronic tax has been approved, we will lay off workers and trust you me, unemployment rate will be higher than we have now maybe after three months,\u201d he added.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"P82pU4R81Ys\"><iframe loading=\"lazy\" title=\"Data Protection Commission to retrieve 1.5m cedis from defaulting data controllers (30-3-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/P82pU4R81Ys?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>File photo: mobile money (MoMo) A lot of people who have their money kept on their Mobile Money Wallet have begun withdrawing their money following the passage of the controversial E-levy. This is according the Mobile Money Agents Association of Ghana (MMAAG). Some are expecting that the electronic wallet tax will kick off on 1st [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1039426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1327,6888,1110,383,6889,6891],"class_list":["post-1040089","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-hit","tag-mmaag","tag-mobile","tag-money","tag-panic","tag-withdrawals"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1040089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1040089"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1040089\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1040089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1040089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1040089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}