A member of Parliament and economist, , has stated that the controversial 0.75% levy on wallet-to-bank transfers was approved during the administration of former President , amid growing public debate over the charge.
According to Adongo, the levy was not introduced by the current government but formed part of arrangements and regulatory approvals put in place under the previous administration. He argued that recent criticisms directed at the current government over the charge fail to acknowledge its origins.
His comments come in the wake of public concerns following the implementation of the 0.75% fee on transfers from mobile money wallets to bank accounts, a move that sparked widespread discussions among consumers, businesses, and financial sector stakeholders.
Speaking on the matter, Adongo maintained that the policy framework and approvals for the charge were established before the change in government. He said it was therefore misleading for political opponents to attribute responsibility solely to the current administration.
“The facts must be put on the table. This levy was approved under the Akufo-Addo government, and the public deserves to know the history behind it,” he stated.
The levy has drawn criticism from sections of the public who argue that it increases the cost of digital transactions and could discourage efforts to deepen financial inclusion. Others have expressed concerns about the additional burden on individuals and small businesses that depend on mobile money services for daily transactions.
The issue gained further attention after regulatory authorities intervened to review the implementation of the charge. Industry players have since called for broader consultations to ensure that digital financial services remain affordable and accessible to the public.
Supporters of the levy, however, contend that service providers require sustainable revenue streams to maintain and expand digital payment infrastructure. They argue that charges associated with certain transactions are common in financial systems around the world.
Adongo urged Ghanaians to focus on the facts surrounding the policy and avoid politicising discussions about financial sector regulations. He stressed the need for transparency and informed public debate on measures affecting digital payments and financial services.
As discussions continue, stakeholders across the banking and telecommunications sectors are expected to engage regulators and policymakers on the future of transaction charges and their impact on Ghana’s rapidly growing digital economy.
