I Cannot Abolish E-Levy Until Bank of Ghana Approves - MTN CEO

Accra, Ghana - 02 April, 2025 - Ghana's telecom giant, MTN Ghana, says it's unable to immediately scrap the Electronic Transfer Levy (E-Levy) despite President John Dramani Mahama's approval to abolish the tax.

The company's CEO, Stephen Blewett, explained that regulatory procedures must be followed, and official directives are needed before making any changes.

“There is a process that has to be followed. I can’t abolish E-Levy until I’m told to do it. If I do it ahead of time, the Bank of Ghana will catch me,” he said while speaking at MTN House in Accra on April 2.

The E-Levy, introduced in 2022, has been a contentious issue, with critics arguing it imposes an additional financial burden on citizens and discourages digital transactions. The levy, initially set at 1.75% and later reduced to 1%, taxes electronic transactions, including mobile money payments, bank transfers, and inward remittances.

Blewett acknowledged the negative impact of the E-Levy on mobile money transactions and expressed optimism that its removal would revitalize the sector. "The reason for the abolishment of E-Levy is to encourage momentum in mobile money," he said.

While MTN Ghana awaits official instructions, the company assures that it will implement the change once the regulatory process is complete. "We will follow the process. And once it's gone, mobile money will regain its strength," Blewett said.

The abolition of the E-Levy is part of a broader effort to reshape Ghana's tax landscape. President Mahama's approval of legislative bills aimed at scrapping several taxes, including the Betting Tax and Emissions Tax, marks a significant achievement for his administration.

Source: Lead News Online