Ghana: Vodafone CEO Speaks Up Against Mobile Money Tax -Reports

29 November 2019

Money Transfer

The CEO of Vodafone Ghana, Patricia Obo-Nai, has issued a statement saying that for Ghana’s digital market to grow, the government must refrain from taxing mobile money operations.

She said that the taxing of mobile money operations would only discourage its usage in the country and that this would be unhealthy for the growth of Ghana’s digital market.

In an interview on Joy FM, Obo-Nai said that in her opinion, the industry is still too young and that if the government started taxing mobile money, Ghana would not achieve the penetration it requires.

Obo-Nai explained that Ghana’s mobile money industry currently has the least penetration rate, although awareness had been high in the country.

Even though the World Bank in June had described Ghana as the fastest growing mobile money market on the continent, the CEO believes that more could be done to encourage its penetration.

According to Obo-Nai, the penetration rate is below average, at a percentage of approximately 45% with many Ghanaians still not using the service.

Earlier this year, Ghana’s Communications Minister, Ursula Owusu-Ekuful, pushed for mobile network businesses to be taxed for the profit they generate on mobile money transactions.

Source: My Joy Online