MTN Ghana CEO, Stephen Blewett, has made it clear that the removal of the Electronic Transfer Levy (E-Levy) can’t happen overnight due to regulatory constraints.
There’s a process that has to be followed,” he stated, emphasizing that any change to the levy would require official approval.
Blewett noted that the E-Levy, introduced to generate revenue for Ghana’s economy, has underperformed, failing to meet expectations. Despite this, he sees the abolition of the levy as a step forward for the mobile money sector, which has slowed down in growth since its implementation.
The removal of the E-Levy is expected to drive financial inclusion and encourage mobile money transactions. However, MTN Ghana, like other financial institutions, must wait for the official directive before making changes to its mobile money operations.
We will follow the process,” Blewett assured, adding that once the levy is abolished, mobile money will regain its strength.