Bank of Ghana should create a platform to regulate Mobile money business – Kwadwo Boateng

A member of the New Patriotic Party (NPP) and New Juaben Chairman of the NPP, Kwadwo Boateng says the Bank of Ghana( BoG) should set up a platform to regulate the Mobile Money business to ensure that transactions of mobile money are monitored and duly taxed.

He explained that a huge amount of monies are involved in the MoMo transactions and all these monies are from individual resources. Out of the 30million population in Ghana, about 17.2 million people are into mobile money transactions.

He said, ”government does not receive much percentage from these Momo transactions and it is very important for the government to know that its responsibilities go beyond social responsibilities”

He also noted that some developed countries have created a platform that makes it easier for money transactions, which enables both the government and individuals to receive their percentages.

‘I therefore call and plead with the BoG to establish a platform to regulate Momo because the steps taken by the telecommunications companies are not in alignment with the telecommunication business,” which he furthered stated their activities are affecting the traditional banks.

Source: Kessbenonline.com/ Eunice Odai