'We can’t abolish E-Levy until the process is followed' – MTN CEO Stephen Blewett

The Electronic Transfer Levy (E-Levy) remains a hot topic in Ghana. MTN Ghana CEO Stephen Blewett stated that abolishing it won't happen quickly.

He spoke at the MTN House in Accra on April 2. He addressed public concerns about the levy and its regulatory constraints. He emphasized that there is a process to follow for any changes.

“I can’t abolish E-Levy until I’m told to do it,” he said. “If I do it early, the Bank of Ghana will catch me.”

Blewett's comments show that while the government wants to scrap the levy, strict regulations must be followed first.

The E-Levy was introduced to generate revenue for Ghana’s economy. However, Blewett noted that it has not met expectations.

“I read an article recently, and its actual revenue was much lower than predicted,” he revealed.

He believes removing the levy is justified if financial inclusion is the goal. It could also encourage more mobile money transactions.

“People think there’s suddenly a lot of money in the ecosystem. No,” he emphasized.

Blewett explained that removing the levy aims to boost growth in mobile money services. The sector suffered after the tax was introduced.

Before E-Levy, mobile money was becoming popular among Ghanaians without traditional banking access. The tax discouraged transactions and slowed adoption rates.

“This removal will help us regain faster momentum,” Mr. Blewett said confidently.

While many anticipate abolishing E-Levy, Blewett made it clear this won't happen immediately. MTN must wait for official directives before changing its mobile money operations.

Once abolished, mobile money transactions are expected to increase again. This will benefit both users and businesses relying on digital payments.

“We will follow the process,” Mr. Blewett assured. “Once it’s gone, mobile money will regain its strength.”