MTN Ghana says it has witnessed a significant increase in mobile money transaction following government’s decision to review the Electronic Transaction Levy (E-Levy) rate downwards.
The reduction of the E-Levy rate from 1.5% to 1% came into effect after the realisation that the levy has failed to meet all of its revenue targets since its introduction.
Addressing participants at an MTN Media and Stakeholders Forum in Accra on Thursday (27 April), Chief Executive Officer of MTN Ghana, Selorm Adadevoh, said “This revision is very positive for us as a business but also for Ghanaians.”
Adadevoh added “We have seen a lot of increased appetite for mobile money transaction.”
Listen to Selorm Adadevoh in the attached audio clip below:
Audio Player
Reduction
The implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% commences today, Wednesday (11 January), according to the Ghana Chamber of Telecommunications.
The Commissioner General of the Ghana Revenue Authority (GRA) has also issued a directive to that effect.
“As captured in the Electronic Transfer Levy (Amendment) Act, 2022, Act 1089, which has been passed by Parliament and assented to by the president, the levy on electronic transfers has been reduced from 1.5% to 1%, while the GHC100 threshold remains unchanged,” the chamber said in a statement.
The Ghana Chamber of Telecommunications has also given assurance to the general public of a seamless implementation of the revised electronic transfer levy.
The reduction from 1.5% to 1% came into effect after the realisation that the levy has failed to meet all of its revenue targets since its introduction.
Players in the telco space have also been raising concerns over the low-running and ineffective mobile money service.
The Finance Minister Ken Ofori-Atta first announced the decision to reduce the levy from 1.5% to 1% on Thursday (24 November 2022) during the 2023 Budget Statement presentation in Parliament.
Below is the full statement from the chamber:
By Fred Dzakpata || ghextractives