Eight out of ten Ghanaians have modified their MoMo transaction behaviour, according to a study.
Since the E-Levy went into effect in May of this year, the majority of Ghanaians are claimed to have modified how they behave while sending money electronically.
A research found that 83% of the population felt obligated to do so in order to adapt to the restrictions the aforementioned levy imposed on their ability to support themselves.
These were among the research's conclusions about the impact of the new tax imposed on people in an effort to increase government income.
The IMANI Digital Financial Services Research Project examined how the 1.5 percent tax affected people's coping skills.
"We first determined how frequently consumers use digital financial services to determine the effect of the e-levy on their use. Afterward, they were questioned further about how it had influenced the number of mobile money transactions they completed in a normal week. services accounts (such as mobile money).
According to a study, eight out of ten Ghanaians have modified their MoMo transaction habit.
Highlights of the study showed that, of the 83 percent who reviewed their electronic financial activities, over half slowed down the number of MoMo transactions they conducted.
47 percent of respondents said they have decreased the quantity of mobile money transactions by between 51 and 100 percent.
"An additional 25% reported that they had scaled back their transactions by between 10% and 50%. Only 1.6% of respondents said that their transaction volumes had remained the same or grown.
The outcomes, however, were equal in terms of transfer regularity.
In addition, "approximately 31% of respondents said that they make between 1-2, 3-5, or more than five transfers every week," according to the research from June 22.
In partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit, the IMANI Centre for Policy and Education carried out the study.
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