Ghana’s Parliament has officially approved the Electronic Transfer Levy Repeal Bill 2025, marking the end of the controversial E-Levy, which had imposed a tax on digital financial transactions.
Initially introduced in 2022 at a rate of 1.75%—later reduced to 1%—the levy taxed electronic t
ransactions such as mobile money payments, bank transfers, and remittances. It faced strong public opposition, with critics arguing that it discouraged digital transactions and placed an unnecessary financial burden on citizens.
During the parliamentary debate on the repeal, Deputy Finance Minister Thomas Nyarko Ampem highlighted the economic benefits of eliminating the levy, noting that its removal would return approximately GH¢2 billion to the Ghanaian people.
He emphasized that this move would ease financial pressures, enhance digital financial inclusion, and promote the use of electronic payment platforms.
The repeal is expected to boost mobile money usage and electronic commerce, as many business owners, financial analysts, and mobile money agents had criticized the levy for stifling digital financial growth.
With its removal, stakeholders anticipate an increase in digital transactions, fostering a more robust and inclusive economy.
The government’s decision aligns with its broader strategy to promote financial accessibility and economic growth while removing barriers to cashless transactions.
Moving forward, policymakers and financial institutions are expected to explore alternative revenue generation measures that do not hinder digital financial adoption.
