The latest Economic and Financial Data from Bank of Ghana (BoG) revealed that the total value of Mobile Money (MoMo) transactions in the country has grown to GH¢569 billion in 2020 from GH¢32.8 billion in 2019”. However, in the 2022 budget the Ministry of Finance has introduced (pending Parliamentary approval) 1.7% mobile money tax. This is expected to affect the degree of patronage of mobile money in the era of COVID 19. Notwithstanding, this development more financial institutions are expected to penetrate the mobile money markets next year. Required: Examine the channels through which the financial institutions can circumvent the harmful effects of the Mobile Money Tax (if it is accepted by parliament) and boost their performance by penetrating the mobile money market.
Assignment 3
“The latest Economic and Financial Data from Bank of Ghana (BoG) revealed that the total value of Mobile Money (MoMo) transactions in the country has grown to GH¢569 billion in 2020 from GH¢32.8 billion in 2019”. However, in the 2022 budget the Ministry of Finance has introduced (pending Parliamentary approval) 1.7% mobile money tax. This is expected to affect the degree of patronage of mobile money in the era of COVID 19. Notwithstanding, this development more financial institutions are expected to penetrate the mobile money markets next year.
Required:
Examine the channels through which the financial institutions can circumvent the harmful effects of the Mobile Money Tax (if it is accepted by parliament) and boost their performance by penetrating the mobile
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)