Following the passage of the Electronic Transfer Levy, the Mobile Money Agents Association of Ghana (MMAAG) is threatening to lay off employees because of the recent panic withdrawals which are having a toll on their business.
Ebenezer Cobinnah, the Association’s Secretary told Spice 91.9FM in Takoradi, that majority of the client have stopped patronizing their service, which is having a significant impact on the business.
“As at 12pm, my transactions were not up to fifteen. People are no longer depositing, so no transactions are made. How do I get to pay my employees? “, He queried.
He mentioned that since the passage of the e-levy, people no longer deposit cash in their mobile money wallet rather comes to withdraw monies on their Electronic wallet.
This, he said is no longer profitable to the business as no profit is made because of low deposit of money in wallets.
He believes that, Ghanaians do not fear to pay tax but the idea to tax their capital is worrying to them, thus are tempted to withdraw their services.
He said, he has over 20 employees, but some of the workers risk losing their livelihood because of unprofitability in business.
“The service is no longer profitable, we may be tempted to remove our services. Many of our employees will undoubtedly lose their jobs. There has been a significant drop in the use of mobile money after the passage of the bill”, He added.
He observed that the service since its inception has helped to reduce unemployment in the country but there is a possibility of the country recording yet high rates of unemployment.
Mr Cobbinah again called on the government to increase education on the policy even though the President has accent the bill into law.