Gabby Otchere-Darko Finally ‘Spit Out’ The Bitter Truth

Mr. Gabby Otchere-Darko is the founder and the former Executive Director of the Danquah Institute (a political think tank based in Accra, Ghana). He is also a leading member of the ruling New Patriotic Party (NPP).

In his latest release, Gabby finally release the ‘bitter truth’, about the controversial electronic levy (E-levy), which is about to two months into it’s implementation.

According to Gabby, the current levy on all electronic transaction (e-levy), has failed to live up to government’s expectation, because it has generated less than ¢60 million, close to two months of its implementation.

In his latest tweet, Gabby Otchere-Darko revealed that, “What options are open to government? The question should rather be: what option, if adopted, will re-inject investor confidence in our economy? Even if we find the $3-5 billion required, will that help? E-levy which was to have given us some 600m by now has done less than 60m”.

He added that, “I am not for an IMF program that throws peanuts at us; but imposes conditions that will end up hurting the poor, jobs and businesses more. Covid-19 and War in Ukraine are not of Africa’s doing, but more to our doom. A program that pretends it is all our doing is doomed to fail. We do something that will inject confidence in our capacity to ride this heavy storm, and that something should happen pretty quickly. Are you against an IMF program”?

The Electronic Transaction Levy (E-levy), is a 1.5% tax applied on transactions made on electronic or digital platforms, like bank transfers and remittances; as well as mobile money transactions.

A report on myjoyonline page revealed that, “Following the implementation of the e-levy on May 1, most Ghanaians are said to have changed their behavior toward the electronic transfer of funds. According to a study, 83% of the populace felt compelled to do so in order to adjust to the limits introduced by the said levy as far as their livelihoods are concerned”.

Content created and supplied by: CornerNewsUpdate (via Opera
News )