Business
MTN Ghana CEO, Stephen Blewett, has clarified that the abolition of the Electronic Transfer Levy (E-Levy) cannot take immediate effect, as it must go through regulatory approval
MTN Ghana CEO, Stephen Blewett, has emphasized that the removal of the Electronic Transfer Levy (E-Levy) won’t happen overnight due to regulatory procedures. He explained that any changes to the levy require official approval, saying “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”.
Blewett’s statement comes after President John Mahama signed amended bills into law, abolishing several taxes, including the E-Levy, betting tax, and emissions tax.
Although the President’s announcement marks the formal end of these taxes, Blewett highlighted that MTN and other financial institutions must wait for official directives before making operational changes.
The E-Levy’s removal is expected to boost the mobile money sector, which has slowed down since the levy’s introduction. Blewett believes that removing the levy will help the sector regain momentum, stating “The reason for the abolishment of E-Levy is to encourage momentum in mobile money