Stakeholders press Government to further slash E-Levy rate

Stakeholders entrenched in Ghana’s burgeoning financial technology arena have mounted pressure on the government for a noteworthy reduction in the Electronic Transaction Levy. The clarion call stems from a collective aspiration to invigorate digital payment adoption across the nation.

Players within the fintech sector contend that the prevailing e-levy charges cast a shadow over the propensity of numerous Ghanaians to opt for electronic fund transfers as their preferred method of settling financial obligations.

Eric Quartey, the General Manager for Cellulant Ghana, highlighted the potential reverberations of this situation on the overall financial landscape. Speaking at the MoMo Stakeholder Forum held by MTN Ghana, Mr Quartey outlined a compelling case for a deeper reduction in the E-Levy to increase digital payments uptake among Ghanaians.

“I know this is very sensitive, but I have to say it. We know the government has reduced the rate but there should be a further reduction to encourage digital adoption.”

“If this is done, I am sure it will help to pool more numbers within this space”, he noted.

In alignment with this sentiment, Sylvia Otuo-Acheampong, Head of Product and Service at Mobile Money Limited, MTN Ghana, underscored the company’s resolute commitment to synergizing with industry counterparts to augment the digital landscape. She underlined the pivotal role this collaboration plays in bolstering the government’s endeavor to expedite digitization initiatives.

“We are working on improving this space, it is very important to the economy at large. MTN Ghana has been engaging government on so many projects and we will continue to do so”, she said.

The MoMo Stakeholder Forum, convened under the theme “Addressing Barriers to Digital Payment in Ghana,” convened industry stakeholders to deliberate on a comprehensive strategy to surmount hurdles inhibiting the widespread embrace of digital transactions within the nation.

Source: Norvanreports