Researchers at IMANI Africa are predicting that government’s quest to raise some ¢4.5 billion from the Electronic Transactions Levy (e-levy) is not likely to be met.

This is because most Ghanaians sampled in a survey say they have drastically reduced their mobile money transactions since May 1, when the tax law was implemented.

The government pushed through the levy despite heated opposition with experts warning of a reduction in usage of mobile money platforms.

IMANI Africa, a think tank, has been investigating this. Data was collected through a survey of 1,677 people from May 31 to June 17.

According to IMANI, "85.9 per cent of pollsters indicated that they are not in support of the mobile money transaction, and 13 per cent indicated that they are somehow in support."

King Carl Tornam Duho, a researcher at IMANI Africa, said, “only 7.6 per cent say they are not using Mobile money for transactions at all.

"Maybe they have been able to adjust to other systems, but 30.3 per cent (above 30 per cent) are still using it above,” he added.

He said when asked about the volume of transactions, about 72 percent indicated that the volume of transactions has changed over the period.

When they enquired further about the extent to which the volume had changed compared to the government's suggested 24 per cent, he said: “polls showed that more than 50% indicated that the volume has reduced from about 51 percent to 100 percent.

"Twenty-two per cent also indicated that there has been an increase in the volume of more than 100 per cent.

“So if you combine this and the one that has 10 to 50 per cent, you see that the 24 per cent calculation might not be possible.”

Meanwhile, a Principal Revenue Officer and Head of the Project Management Unit for GRA, Isaac Kobina Amoako, say it is too early for firm conclusions to be drawn on the impact of the levy.

This, according to him, is because data is still being churned.