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If 40 Billion Dollars Couldn't Save The Economy, What Can E-levy Do? Kojo Yankson queries.

More and more people are having their say about the proposed Electronic transaction levy, otherwise known as E-levy. The levy, which will impose tax on mobile money transaction, Banking and foreign remittance transfers, has generated some heated debate in Ghana since its announcement in the 2022 budget, read in November last year. 

As part of the ongoing debate, Joy Fm's morning show host, Kojo Yankson could not understand why Ghana, which had borrowed 40 billion dollars from 2017 to 2021 alone, could point to E-levy as its saviour. "If 40 Billion Dollars could not save the Economy, what will E-levy Do? He retorted. 

His comment is in reaction to some answers government officials have been giving in defense of the tax. 

In other to convince the citizens to support and pay the E-levy, government, through its Finance Minister, has given many qualifications. Key among these persuasive arguments by Minister Ken Ofori Atta is that, the Economy will suffer without this Momo tax. In some instance, the Information Minister, Kojo Opong Nkrumah says; the country may have to go to the International Monetary Fund (IMF) for bail out. 

The seasoned journalist is obviously not convinced by this argument. 

He went further in his commentary to list some of the natural resources the country boasts of. Ghana has oil, gas, Timber, Gold, Bauxite, Diamond etc., yet we are not better off. 

"Gold money for decades have not saved the economy, oil money have not saved the economy, Bauxite money have not saved the economy." started listing. 

"Diamond money has not saved the economy, Cocoa money has not saved the economy. 

Since 2017, with added 40 Billion to our debt. What can E-levy do to us" the bewildered Kojo Yankson lamented.

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E-levy Ghana Kojo Yankson


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