E-levy, barely 2 months of implementation, is it a blessing or a curse in Ghana?

Maaconewsupdate




After 5 months of stalemate and bashing the E-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi like most currencies, struggling against the UD dollar..."- Gabby Otchere-Darko 

After this post on his Twitter platform, some Ghanaians had this to say responding to the question he posed; what options are open to government?  The question should rather be: what option, if adopted, will re-inject investor confidence in our economy? Even if we find the $ 3-5 billion required, will that that? E-levy which was to have given us some 600m Ghana cedis by now has done less than 60m cedis.

Maaconewsupdate is of the view that, as a government, sometimes it has to listen to the citizens before implementing a certain policy. It was obvious that, majority of Ghanaians were not in support of the passage of the E-levy as well as the minority group in parliament of Ghana. The minority group vehemently opposed to the passage of the E-levy, however, the government managed its way to get it passed. As the saying goes in parliament, the minority have their say but the majority have their way.

Right after the passage of the E-levy on 1st May 2022, there was a panic withdrawal of money from mobile wallet accounts from mobile money users across the nation. The 1.5% charge on all electronic transactions according to mobile money users was exorbitant and would collapse the mobile money business in Ghana.

Truly to their fears; barely 2 months after implementation and research indicates that 8 out of 10 people have stopped using mobile money as we speak. Government is also not getting its estimated and projected revenues from the E-levy as at now. Some citizens suggest government should explores new ways of getting more revenues for the country.

Now Maaconewsupdate asks, is the E-levy a blessing or a curse? Should it be continued or cancelled or better still reviewed a little bit downward?

All your comments are highly welcome.


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