The Mobile Money Agents Association of Ghana has changed its stance on the implementation of the Electronic transfer levy (E-Levy).

The association is convinced this tax will help revive the country’s ‘ailing’ economy.

A few days after the implementation of the levy, some mobile money vendors complained that it has slowdown business, as consumers are rather withdrawing their funds.

Prior to the implementation of the levy, the association planned to stage a demonstration exercise against the policy, but later called off the exercise.

However, in a twist of events, Secretary of the Mobile Money Agents Association, Evans Otumfuo at a meeting with President Nana Akufo-Addo, at the Jubilee House on Tuesday, said the association’s earlier concerns over the tax have been resolved.

He lauded President Akufo-Addo for the introduction of “this wonderful initiative.”

“Indeed, we had some concerns when the tax was introduced earlier. But these have been addressed. We are ever willing to partner government to bring up more of such refreshing policies.”

The association further appealed to the government to involve them in any policies and programs that affect their businesses directly and indirectly.

Government commenced the implementation of the controversial levy on May 1, 2022, despite widespread condemnation of the tax policy.

The levy was reduced from 1.75% to 1.5% after several protests led by the opposition party, its Members in Parliament, and some civil society groups.

Government had hoped to rake in about GH¢7 billion from the collection of the 1.5% levy on mobile money and other electronic transactions, but the figure was revised downwards to about GH¢4 billion recently.