Bussiness
Withdraw E-Levy; Ghanaians don’t like it – Bokpin
Economist and Finance Lecturer, Professor Godfred Bokpin has once again urged the government to withdraw the Electronic Transaction Levy (E-Levy), insisting it’s a nuisance tax.
“One major policy intervention which they called E-Levy, and of course many Ghanaians did not support E-Levy, and I still don’t support E-Levy and I will still ask government to withdraw the E-Levy”, he mentioned on Joy FM Super Morning Show.
According to him, the fiscal measures introduced by government in the 2022 Budget are not living up to expectations.
A cousin of President Akufo-Addo, Gabby Asare Otchere-Darko, yesterday[27/06/2022] tweeted that the E-Levy since its implementation two months ago has yielded only ¢60 million, against the target of ¢600 million.
“The government came up with enhanced measures if you remember from the ministry. Some travel bans here and there and all of that. So all those enhanced measures together with the 2022 Budget actually failed to meet the expectations of stakeholders and investors.”
“And you could see that also on our yields on our bonds”, Professor Bokpin of the University of Ghana explained.
“Then you see quickly Russian-Ukraine; we may not be seeing the bullet right here [Ghana], but the effect magnifies the existing vulnerability and exposes the weaknesses in our economy in a way that we haven’t seen in recent times”, he further said.
Inflation has been rising at a faster pace in the last three months, hitting 27.6% in May 2022.
The rising inflation is largely due to increasing prices of some foodstuffs and fuel prices. This has also affected prices of some products and transportation.
Professor Bokpin said “you could see where inflation is and it appears we are helpless to some extent. In the midst of all the multiple taxes, the rising inflation itself is also a form of tax, especially on low income household who have no means of protecting their meagre savings and investments against the rising inflation.”
Source: Joy Business
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
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