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World Bank urges government not to tax MoMo transactions

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The World Bank is suggesting to the government of Ghana not to impose taxes on mobile money (MOMO) service, at least for the time being.

The Bank said levy imposition on the service at this stage, would distort the rapid growth of the mobile money market and affect financial inclusion efforts.

Last month, the World Bank touted Ghana as the fastest growing mobile money market in the world.

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