Throwback: Osei Kyei-Mensah-Bonsu celebrates birthday with customized E-Levy cake

Not long ago, a birthday celebration for Osei Kyei-Mensah-Bonsu sparked controversy over its symbolism.

The then Majority Leader’s event featured a cake shaped to spell "E-LEVY," a clear reference to the government’s newly introduced Electronic Transfer Levy.

The event, attended by high-ranking politicians including then-Vice President Dr. Mahamudu Bawumia, took place during intense debates over the levy’s implementation.

At the time, the government pushed for the E-Levy as a critical revenue measure, despite strong opposition from the Minority in Parliament and widespread public discontent.

Critics argued that the levy would burden Ghanaians and discourage digital transactions.

The bill eventually passed, imposing a 1% tax on electronic money transfers.

However, in a major policy shift, the E-Levy has now been abolished following the passage of a new tax reform bill. The move aligns with the current administration’s economic strategy, which aims to alleviate financial strain on citizens and encourage mobile money usage.

President John Dramani Mahama’s government has emphasized that removing the levy will restore billions of cedis to the economy, directly benefiting individuals and businesses.

The repeal of the E-Levy marks a turning point in Ghana’s financial landscape. Once defended as an essential revenue source, it is now seen as a policy misstep that hindered financial inclusion.

With the levy gone, mobile money transactions are expected to increase, making digital finance more accessible and cost-effective for all Ghanaians.

What began as a symbol of political determination has now ended in reversal, reflecting the evolving priorities in Ghana’s economic governance.