Telcos agree to cut MoMo charges by 25%

Mobile Network Operators in Ghana have agreed to a 25% cut in mobile money transaction charges to accommodate the controversial E-Levy proposed by the government in the 2022 budget.

“We have had extensive deliberation with the government on the need to lessen the impact on our consumers. We acknowledge the need to expand the tax base. However, to reduce the overall impact of the new levy on consumers, MTN and AirtelTigo have agreed to a downward revision of their P2P (person to person transfer) fees by up to 25% depending on the respective operator. Vodafone currently has no charges,” the Ghana Chamber of Telecommunications (GTC) said in a statement on Friday, 17 December 2021.

“Each operator would notify their customers of the applicable revised rate when the e-levy bill is passed into law,” the statement noted.

The 1.75 per cent e-levy takes effect from 1 February 2022.

It covers mobile money payments, bank transfers, merchant payments, and inward remittances.

The originator of the transactions will bear the charge except for inward remittances, which will be borne by the recipient.

There is an exemption for transactions up to GH¢100 ($16) per day.

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