Mobile money, which is an e-wallet service allows registered users to store, send and receive payments using their accounts. But the new 1.5% tax imposed by the government on all electronic transactions over 100 Ghanaian cedi worries users.

The new 1.5% tax imposed by the government on all electronic transactions over 100 Ghanaian cedi ($13) – known as e-levy – is a cause for concern. The e-tax, which came into effect on May 1, will also apply to bank transfers and remittances, as well as mobile money transactions.

Detractors of the law believe it will hit low-income workers and small businesses the hardest, which rely heavily on mobile money transactions. The authorities defended the new tax, saying it would broaden the tax base, increase government revenues and reduce the country's debt by $50 billion.