Finance

Telcos Chamber demands gov’t to cut off 50% of E-Levy charges

Published

5 months ago

November 25, 2023

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The Ghana Chamber of Telecommunications (GCT) has urged the government to reduce the Electronic Transfer Levy (E-levy) from 1% to 0.5% and introduce a 0.5% levy on cash-outs to align with Ghana’s digital-first strategy.

Despite facing initial challenges, the E-levy has generated significant revenue of GH¢482.8 million towards the targeted GH¢6.9 billion.

The GCT emphasised the need for further adjustments to encourage digital payments and support the government’s digital transformation goals.

In 2022, the telecom industry contributed over GH¢6 billion in taxes and payments, marking a 50% increase from GH¢4 billion in 2021.

The GCT’s 2022 Mobile Industry Transparency Initiative report reveals these contributions, emphasising the industry’s substantial role in Ghana’s economic development.

According to Dr. Kenneth Ashigbey, CEO of the GCT, the industry’s GH¢6.07 billion contribution accounts for approximately 8.02% of the government’s 2022 tax revenue of ¢75.71 billion.

The report also highlights the industry’s employment impact, directly supporting over 2,600 jobs and indirectly creating more than 1.2 million jobs, including over 505,000 active Mobile Money Agents.

Source: classfmonline.com