The Electronic Transfer Levy (E-levy), which is now 1%, should be further reduced to between 0.1 and 0.5%, according to the Ghanaian Mobile Money (MoMo) Agents Association.
The 2023 budget and economic strategy were presented by Finance Minister Ken Ofori-Atta, who also promised a 1.5% to 1% reduction in the E-Levy.
Additionally, he stated that starting in 2023, all transactions would henceforth be subject to the rules.
However, the agents claim that if the government adopts a different perspective on the rate, the predicted income objective may still be met.
If there is no additional reduction, Ghanaians will continue to evade the fee, according to the Association's general secretary, Evans Otumfour.
"The government has to examine why consumers aren't buying from MoMo. It is clear that one of the main obstacles to the government collecting its money is the rate. Government must thus lower the tariff in order to avoid affecting many individuals. Since there are more than 17 million MoMo users, the government will still reach its income goal if the rate is set at 0.1 or 0.5 percent. If not, individuals will search for alternatives, such as using money.
Even the minority in parliament has proposed a GHS300 threshold and a 0.5 percent electronic transfer levy to help the less fortunate Ghanaians.
The caucus' leader, Haruna Iddrisu, declared that his group was willing to collaborate with the administration to address the economic problem.
In order to get the government out of its impending economic problem, he added, "We will subject it [the increased E-levy rate] to additional critical and in-depth debates as a caucus."
Without getting into the possibilities, the Minority leader said, "but if you look at your scenarios, contemplate additional 0.5 percent at a threshold of GHS 300 as opposed to what you have confessed of 1 percent at a threshold of zero."
Some users of mobile money have also voiced their discontent with the suggested adjustments.