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Mahama assures His Commitment To Scrap E-Levy and Betting Tax


Story by, Genevieve Obro - Accra

 John Dramani Mahama,  former President and the flagbearer  of the National Democratic Congress (NDC),  has assured his commitment  to scrap the Betting and E-Levey tax when voted  into power 2024 general elections as the President of Ghana.

He said this when he engaged the Ghana Fintech Ecosystem in Accra to make them know the intentions of the Next NDC Government and seek their advice so that he can factor them into his manifesto.

According to the former President, it is right from the onset that the NDC has been opposing the introduction of E-Levey and still stand by it.

“We took that position right from the scratch that we said, when we come to power we are going to scrap the E-Levey. Our position has been consistent. We were trying to prevent the E-Levey from being passed but fortunately, they did passed and when it was passed, we said no and that when we come to power, we will take it off “.

He  Emphasize that, the E-Levey since its implementation has not achieved what it was meant to achieve saying, a lot of people are doing cash out and using cash to pay for whatever they have to pay in other to avoid the 1.5 percent.

“Already the taxes on purchasing are so high and so, if you are going to a supermarket, you have to take cash and pay all the levies and because you are using mobile money, you pay another 1.5 percent in addition to all the payments you are making. It then defeat the purpose. It makes some of us go back into the cash economy. And so, we were consistent with our position”.

Policies he mentioned, should be an instrument that nurtures the growth of sectors and not to punish people like a police officer waiting to make an arrest and prosecute but, must rather help to grow an industry.

Former President John Dramani Mahama, assured to streamline and improve regulatory, and supervisory environment to encourage active participation and healthy competition amongst diverse players within the Fintech space.

Diversity and competition he averred, drive innovation and enhance user experience indicating that, young persons with brilliant ideas eager to contribute their quota to the National Agenda are facing rigidities in their application processes. “I will actively ensure Ghanaian participation in the buoyant, diverse, and competitive Fintech Ecosystem for the ultimate benefit of our people”.

He  further indicated that, he would ensured that the process to acquire license would not be politicised saying, equal access would also be given to the ordinary Ghanaian to apply.

“Your license as a Fintech is a bag of approval that permits you to provide a regulated service trusted by the public and it should be cherished”.

John Dramani Mahama however, promised to set up a $50 million Fintech Transformative Growth Fund to address the financial needs of Ghanaian-owned Fintech.



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