Africa Ghana West Africa World 

Ghana’s President assents to e-levy bill as panic withdrawals surge

– – Ghana’s President Nana Akufo-Addo has signed the country’s controversial Electronic Transaction Levy (E-Levy) bill into law paving way for its implementation. The country’s parliament on Tuesday passed the bill popularly referred to as E-levy to cover electronic transactions including mobile money transfers and payments. The passage in parliament though was done amid a walkout by opposition lawmakers who have… Read More
Africa Ghana West Africa World 

Ghana’s controversial e-levy passed by MPs after opposition walkout

– – Ghana’s parliament on Tuesday passed a controversial electronic transactions bill popularly referred to as E-levy. The bill relates to the introduction of a levy on electronic transactions including mobile money transactions. Ghana’s President, Nana Akufo-Addo is now expected to sign the bill into law before it becomes effective and operational. Last year when the bill was introduced as… Read More

The biggest fintech trends changing the face of payments in emerging markets

Mark Dankworth, President Business Development Africa at Ukheshe, shares his thoughts on how mobile money, cross-border payments and ‘buy now, pay later’ are transforming the financial sector, particularly in emerging markets, for the better. Last year saw an unprecedented rate of change in the financial sector, with huge growth in the use of digital financial services. A report by CB… Read More
Africa Business Ghana West Africa World 

Ghana’s decision to tax mobile money transactions sparks outrage

– – A decision by the government of Ghana to introduce a levy on electronic transactions has left many citizens infuriated. In the presentation of the country’s 2022 budget statement, the country’s Finance Minister Ken Ofori Atta announced that the introduction of the e-levy has been necessitated by the astronomical rise in electronic transactions, hitting $80 billion (over 500 billion… Read More
Africa Business Southern Africa World Zimbabwe 

Zimbabwe bans mobile money cash transactions

Zimbabwe’s central bank has banned mobile money agencies from facilitating cash withdrawals or deposits. The southern African nation is struggling to deal with a worsening economic crisis and cash shortages. Only very few banks are able to provide depositors with physical cash. Zimbabweans have now resorted to mobile money agencies who are reportedly selling cash at a premium illegally. In … Read More