Telecom Giant, Vodafone Ghana, has indicated decline in transactions on its mobile money platform prior to May 1^st, 2022 and after the takeoff of the Electronic Transaction Levy.

The levy which took effect this week was greeted with some challenges which stakeholders have vowed to address.

Speaking on the Super morning show, Mobile Financial Services Manager at Vodafone Ghana, Judith Aduamoah Bossman said although its early days yet to come up with figures on transactions, there have been a significant reduction on the platform.

This decline may be attributed to the uncertainties over the impact of the levy on customer’s financial services.

She was however quick to add that, there has been a general decline since the passage of the levy, hence one cannot tell the specific cause of the development.

“A few days before the implementation, what we noticed was that some customers were withdrawing from their wallet. I believe this was because they were scared of what the implication of the levy will be, and it was implemented on Sunday where transactions are usually low.”

“So when you compare what came in on Sunday [May 1^st, 2022], looking at what happened few days to the implementation, the transaction was low. That’s why, I’m saying that it’s too early to conclude on whether this is impacting the number of customers using the service or not”, she added.

“So we have to monitor this for a few more days to tell what really is happening” she concluded.

Vodafone is one of the designated charging entities for the Levy as mandated by the Ghana Revenue Authority.