Stephen Blewett, the CEO of MTN Ghana, has said that the Electronic Transfer Levy (E-Levy) cannot be eliminated right now since regulatory approval is required.
His comments come after legislative bills that would eliminate the E-Levy, Betting Tax, and Emissions Tax were approved by President John Dramani Mahama.
Speaking on April 2 at MTN House in Accra, Blewett emphasised the need of following regulatory protocols while acknowledging popular anticipation.
“There is a procedure that must be adhered to. Until I am instructed to do so, I cannot eliminate the E-Levy. The Bank of Ghana would catch me if I do it before then,” he claimed.
Although the government has indicated that it intends to eliminate the charge, he underlined that telecom companies such as MTN must adhere to official instructions prior to making any modifications.
Blewett also emphasised the E-Levy’s detrimental effects on mobile money transactions and voiced hope that the industry would recover if it were eliminated.
He said, “The E-Levy was abolished in order to promote the growth of mobile money.”
He promised that MTN would only execute the change after obtaining formal instructions, even though he acknowledged that the tax elimination is anticipated to increase digital transactions and financial inclusion.
“We’ll adhere to the procedure. Additionally, mobile money will recover its strength once it is gone.
Mobile money payments, bank transfers, and inbound remittances were all subject to the E-Levy, which was first imposed at 1.75% and later lowered to 1%. It has drawn a lot of criticism since its launch in 2022, with detractors claiming that it discouraged digital transactions and placed an extra financial strain on citizens.
