Akufo-Addo sets to assent E-levy law

Later this week, President Nana Addo Dankwa Akufo-Addo will sign the contentious Electronic Transfer Levy (E-levy) policy document into law.

This was revealed at a press conference on Tuesday, March 29, 2022, by the Minister of Parliamentary Affairs and Majority Leader, Osei Kyei-Mensah-Bonsu.

Despite a walkout by the Minority Caucus, Parliament approved the bill after altering portions of it on Tuesday.

“President [Nana] Akufo-Addo will assent to the bill as soon as possible,” he said while answering questions posed to him by journalists at the press conference.

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Before the policy paper is offered to the president for his approval, Kyei-Mensah-Bonsu noted that a legislative committee is supposed to fine-tune the authorized bill to ensure that all necessary sections are adequately captured.

“I’m not sure the committee can meet today [Tuesday] because of the [Black Stars] match.” “I’m confident it will be ready for the President’s assent by the end of the week,” the Parliamentary Affairs Minister stated.

The Minority group in parliament and some telecoms players have long opposed the E-levy bill, but the administration insists that it will restore confidence in the economy.

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Minority and Majority MPs took turns debating the bill after it was introduced to Parliament under the certificate of urgency a few months ago, with the typically entrenched positions.

Haruna Iddrisu, the Minority Leader, stated at the second reading on Tuesday that his party will not support E-levy in any way.

The Minority then staged a walkout in protest, but this gave the Majority the upper hand, allowing them to complete the bill’s second and third readings and pass it into law.

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The Electronic Transfer Act, if signed by the president, will make every electronic money transaction subject to a 1.5 percent fee.

Read More News HERE.

Source: DailyNewsGhana.com/2022

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