MTN Ghana CEO, Stephen Blewett, has stated that the telecom company must follow due process before the Electronic Transfer Levy (E-Levy) can be abolished, despite President John Dramani Mahama’s recent repeal of the tax.
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| MTN Ghana CEO says E-Levy removal will take time despite the President’s directive for its abolition |
Speaking at the MTN House in Accra on Wednesday, April 2, 2025, Blewett explained that the company cannot act independently to remove the levy without authorization from the Bank of Ghana.
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🗣 “There’s a process that has to be followed. I can’t abolish E-Levy until I’m told to do it. If I do it ahead of time, the Bank of Ghana will catch me,” he stated.
His comments come after President Mahama officially repealed the E-Levy, alongside the Betting Tax and Emissions Tax, by signing new legislative bills into law.
Mahama’s Tax Repeal and Its Economic Impact
At a ceremony held at the seat of government on April 2, President Mahama reaffirmed his commitment to reducing the financial burden on Ghanaians.
🗣 “Eliminating these taxes will boost economic activity and provide relief to individuals and businesses,” Mahama declared.
The E-Levy, introduced in 2022, faced widespread criticism for increasing the cost of mobile money and digital transactions. Similarly, the Betting Tax and Emissions Tax were met with opposition from industry stakeholders and the public.
While in opposition, the National Democratic Congress (NDC), led by Mahama, had promised to repeal these taxes, arguing that they stifled economic growth.
MTN’s Position on E-Levy Performance
Stephen Blewett also remarked on the E-Levy’s underwhelming revenue performance, suggesting that it failed to meet the government’s initial expectations.
Read also: President John Mahama Abolishes E-Levy, Betting Tax, And Emissions Levy
🗣 “I read an article a few days ago, and in terms of what it actually delivered for the fiscals, it was not nearly as high as the predictions,” he noted.
What Happens Next?
Following President Mahama’s directive, financial institutions—including MTN Mobile Money and other telecom operators—are expected to follow the necessary regulatory steps before removing the E-Levy.
The repeal of the tax is expected to:
✅ Increase digital transactions and improve financial accessibility.
✅ Boost the gaming industry by removing Betting Tax.
✅ Reduce costs for businesses affected by the Emissions Tax.
Ghanaians now eagerly await further instructions from the Bank of Ghana, which will determine how soon the E-Levy will be officially removed from mobile money transactions.
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