It appears the Ministry of Finance wants to reconsider its decision to impose a 1.75% levy on electronic transactions on remittances and momo transactions.
This was contained in the Finance Minister’s statement to Parliament prior to the approval of the 2020 Budget Statement and Economic Policy of government.
The Minister of Finance, Mr. Ken Ofori Ata indicated that the Ministry was in talks with the telecommunications company to scale back and moderate the impact of the electronic transactions on people.
The government’s proposal to impose 1.75% electronic transactions has been met with massive opposition from cross-section of Ghanaians.
Some analysts consider the move as roll back to efforts aimed at promoting a cash lite society, with many citing examples of some African markets, such as Uganda.
The Minority in Parliament has also raised queries with the said levies, describing same as draconian.
But in a statement to parliament on Tuesday, November 30, 2021, the Minister, Mr. Ken Ofori-Atta indicated that:
“We have considered the issues of the 1.75% e-levy in which we are in discussions with the telcos and to scale back to moderate their impact so that in the end, the impact on the citizenry will be manageable,”
Mr. Ken Ofori-Atta, justified the levies, indicating that same will be needed to keep public debt at sustainable levels, ensure infrastructure development and provide employment.
