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Total Mobile Money transactions as of August 2022 compared to the same period in 2021 fell by \u00a213.3 billion, about 2.02%, \u00a0the latest Summary of Financial and Economic Data by the Bank of Ghana has revealed.<\/p>\n
This indicates that the implementation of the Electronic Transaction Levy has had a marginal impact on the biggest payment system in Ghana.<\/p>\n
But the question is why government is failing to rake in the needed revenue from the indirect tax based on the numbers from the Central Bank.<\/p>\n
According to the data, total mobile money transactions stood at \u00a2657.6 in August 2022, as against \u00a2644.3 in August 2022.<\/p>\n
There were earlier fears that a sizeable number of consumers were going to boycott Mobile Money, following the implementation of the E-Levy in May 2022.<\/p>\n
So, it is not clear why the government is not raking in much revenue from the Mobile Money Transactions.<\/p>\n
From the data, Mobile Money transactions have been surging since its implementation in May 2022.<\/p>\n
It went up from \u00a271.4 billion in May 2022 to \u00a277.4 billion in June 2022, but remain relatively same at \u00a277.2 billion in July 2022.<\/p>\n
It however shot up significantly by \u00a29.9 billion to \u00a287.1 billion in August 202.<\/p>\n
In May 2021, June 2021, July 2021 and August 2021, Mobile Money transactions were estimated at \u00a286.5 billion, \u00a289.1 billion, \u00a299.1 billion and \u00a281.8 billion.<\/p>\n
The government had initially projected \u00a26.9 billion from E-Levy collections for 2022, but revised it to \u00a24.9 billion and later to \u00a2611 million.<\/p>\n
Mobile Money Transactions in 8 months of 2021 and 2022<\/strong><\/p>\n Total Mobile Money transactions as of August 2022 compared to the same period in 2021 fell by \u00a213.3 billion, about 2.02%, \u00a0the latest Summary of Financial and Economic Data by the Bank of Ghana has revealed. This indicates that the implementation of the Electronic Transaction Levy has had a marginal impact on the biggest payment […]<\/p>\n","protected":false},"author":1,"featured_media":1218385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[9255,2099,6761,3606,10778,1110,383,3675,2387,7464],"class_list":{"0":"post-1218381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-august","9":"tag-elevy","10":"tag-fall","11":"tag-impact","12":"tag-marginal","13":"tag-mobile","14":"tag-money","15":"tag-total","16":"tag-transactions","17":"tag-yearonyear"},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1218381","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=1218381"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1218381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1218381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1218381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1218381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n\n\n
\n MONTHS<\/strong><\/td>\n 2021 (billions)<\/strong><\/td>\n 2022 (billions)<\/strong><\/td>\n<\/tr>\n \n January<\/td>\n 67.1<\/td>\n 76.2<\/td>\n<\/tr>\n \n February<\/td>\n 67.9\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0<\/td>\n 76.8<\/td>\n<\/tr>\n \n March<\/td>\n 82.3\u00a0\u00a0\u00a0<\/td>\n 90.5<\/td>\n<\/tr>\n \n April<\/td>\n 83.8<\/td>\n 87.7<\/td>\n<\/tr>\n \n May<\/td>\n 86.5<\/td>\n 71.4<\/td>\n<\/tr>\n \n June<\/td>\n 89.1<\/td>\n 77.4<\/td>\n<\/tr>\n \n July<\/td>\n 99.1<\/td>\n 77.2<\/td>\n<\/tr>\n \n August<\/td>\n 81.8<\/td>\n 87.1<\/td>\n<\/tr>\n \n TOTAL<\/strong><\/td>\n 657.6\u00a0<\/td>\n 644.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"