“The Prime Minister laments and wailing engulfs the Government. The tale of a Republic dithering on the precipice of economic doom.
We sounded the caution, we were called naysayers and doom mongers. We advised against the tax, we were called Jeremiahs and haters. The e-Levy tax is a FAILED TAX measure. No amount of spin can change the fact. Here are a few facts;
1. Government estimated to collect GH4.2 billion in 7 months in 2022 from May – December. This works out to approximately GH600 million a month. It would be safe to estimate a daily accrual of GH20 million to meet this target.
2. Within the first week of the implementation of the e-Levy, the Ghana Revenue Authority – Official and government spokespersons were all over jubilating that the e-Levy was raking in over GH1 million a day from one charging entity (https://mobile.ghanaweb.com/…/GRA-rakes-GH-1-million…)
3. I was quick to caution a premature ejaculation of joy as that charging entity accounted for almost 70% of transaction volumes but alas, I was insulted and told I didn’t want to see government succeed.
4. Last week, the Economic Management Team met with key stakeholders in the implementation of the e-Levy and it is evident that our Nation is in a crisis. The golden egg we were promised has turned out to be Alumi.
5. In May 2022, the government only managed to raise about GH1.8 million per day accumulating less than GH60 million in revenue for the whole month. They actually got 9% of expected revenue! 9%!
6. As is the behaviour of highly incompetent but arrogant folks, they are seeking to apportion blame to everyone else apart from themselves. From blaming Mobile Money Agents to the Charging Entities, the chickens have come home to roost.
7. Transaction volumes have reduced by about 18% month-on-month but transaction values have declined by about 40%. This is what we warned the government about but our government is tone deaf.
I am glad that I have not carried out a single MoMo transaction in the past 9 weeks as a sign of personal protest and in defiance of the insensitivity of our government in imposing the tax.
It appears I am not alone. I salute the many other Ghanaians who are saying enough of the wastage and profligacy in our government. We cannot continue to engage in government sanctioned pickpocketing and expect the citizenry to suffer in silence.
The biggest setback in this unfortunate debacle is the roll back of the digital gains and strides that we had made as a Nation since President Rawlings. The sheer incompetence coupled with zealous corruption tinged with a large dose of arrogance is what has served us this poisoned cocktail.
The e-Levy remains a government led Ponzi scheme.
Sam Nartey George, who from Ningo is currently the member of the National Democratic Congress.
In November 2015, he defeated the incumbent E. T. Mensah to represent the party in the 2016 parliamentary elections for the Ningo-Prampram constituency.