MTN CEO: E-Levy Cannot Be Scrapped Instantly Without Approval

The recent statement by the CEO of MTN regarding the controversial Electronic Levy (E-Levy) has sparked discussions among Ghanaians and policymakers. As mobile money transactions continue to be a major part of the country’s financial ecosystem, the issue of whether to maintain or abolish the E-Levy remains a hot topic.

Understanding the E-Levy

The E-Levy, introduced by the government as a tax on electronic transactions, was aimed at increasing revenue for national development projects. Since its implementation, it has received mixed reactions, with many citizens expressing concerns about its impact on financial inclusion and the cost of transactions. Businesses, fintech companies, and mobile network operators, including MTN, have played a key role in ensuring compliance with the tax policy.

The CEO’s Standpoint

In a recent interview, the CEO of MTN stated that the E-Levy cannot be scrapped instantly without proper governmental and parliamentary approval. His remarks highlight the bureaucratic processes involved in making such financial policy changes. The CEO emphasized that while mobile money operators play a significant role in tax collection, they do not have the authority to unilaterally abolish or modify government-imposed levies.

Implications of Removing the E-Levy.

The possible removal of the E-Levy has both positive and negative implications. On one hand, its removal could encourage more digital transactions and financial inclusivity by reducing transaction costs. On the other hand, it could affect government revenue, potentially impacting infrastructure projects and other national initiatives funded by the levy.

If the government decides to remove the E-Levy, it will need to explore alternative revenue sources to fill the financial gap. Experts have suggested widening the tax net rather than relying heavily on mobile money transactions.

What’s Next?

The discussion around the E-Levy is far from over. Policymakers, businesses, and consumers must engage in constructive dialogue to find a balanced solution that