• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Bawumia promises to repeal E-levy if voted as President

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Technology
2 min read
0 0
0
92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bawumia promises to repeal E-levy if voted as President

Vice President Dr. Mahamudu Bawumia has pledged to abolish the contentious levy on electronic transactions, known as the E-Levy, should he assume office.

Addressing Ghanaians on Wednesday, February 7, 2024, the presidential candidate of the New Patriotic Party articulated his vision of transforming Ghana into a cashless economy, citing its potential to bolster economic growth and combat corruption.

In his address, Dr. Bawumia emphasized the necessity of incentivizing the populace to embrace electronic payment channels to achieve this objective.

He declared unequivocally, “To accomplish this, there will be no taxes on digital payments under my administration. The e-levy will therefore be abolished.”

The E-Levy, implemented on May 1, 2022, imposes a 1% levy on various electronic transactions, including mobile money payments, bank transfers, merchant payments, and inward remittances. Notably, transactions amounting to GH¢100 or less per day are exempt from this levy.

While the government had touted the E-Levy as a means to broaden the tax base and generate revenue for developmental initiatives, Dr. Bawumia underscored the imperative of transitioning Ghana into a cashless society.

RelatedPosts

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

He emphasized transparency as a potent antidote to corruption, highlighting the traceability and accountability afforded by increased electronic payments.

Dr. Bawumia outlined the strides made towards achieving this vision, citing initiatives such as mobile money interoperability, merchant interoperability, the Universal QR Code payment system, Gh-Link, debit cards, Ezwich, and GhanaPay.

Speaking further, he noted the completion of the pilot project for a digital version of the Ghana cedi note, known as the central bank digital currency (CBDC) or e-cedi.

“We have put in place the necessary infrastructure for Ghana to go cashless. Recently the Bank of Ghana has completed a pilot of a digital version of the Ghana cedi note in Sefwi Wiawso. This is known as central bank digital currency (CBDC) or e-cedi. The e-cedi is designed to work online and offline and will be launched by the Bank of Ghana in due course.”

“In my humble opinion, the e-cedi, with appropriate privacy protections, will be the ultimate weapon in our fight against corruption because it will provide transparency, reduce the risk of fraud, robbery, tax avoidance, and money laundering since it will be easy to track the movement of money and identify suspicious activity. The e-cedi will quicken the pace of Ghana’s move towards a cashless or near cashless society,” he stated.

In championing the abolition of the E-Levy and advocating for the adoption of innovative digital solutions, Dr. Bawumia’s vision reflects a strategic approach to harnessing technology for economic progress and governance reform in Ghana.

Tags: Bawumia promises to repeal E-levy if voted as PresidentBawumia promises to repeal E-levy when voted into powerE-Levy
No Result
View All Result

Highlights

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Trending

Features

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

August 23, 2025

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul In the heart of West...

The 10 Fastest-Growing Trading Nations in Africa

August 23, 2025

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

August 23, 2025

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

August 23, 2025

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

August 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.