The CEO of Afb Ghana, operators of Qwikloan services on MTN has forewarned that the services will be unavailable if the proposed electronic transaction levy (e-levy) is implemented in its current form.
The 1.75% tax on electronic financial transactions was proposed in the 2022 budget statement presented before Parliament by the Finance Minister, Ken Ofori-Atta, on Wednesday, November 17, 2021.
The Minister explained that the tax measure was to raise revenue to support job creation initiatives, construction of road infrastructure, cyber security, and digital infrastructure.
Ken Ofori-Atta was hopeful that the proposal would come into full force from February 2022.
However, this proposal has been widely rejected by Ghanaians saying it will burden the poor and discourage the usage of the mobile money Service.
The minority group in Parliament rejected the 2022 budget as a result of the proposed e-Levy and other concerns raised on the budget.
MTN Ghana in partnership with Afb GHANA launched the “Qwikloan” service in 2017 to provide convenience to customers in times of need to enhance their business.
The service, dubbed, “Qwikloan” is fast, easy, and convenient which enables customers to access loans using their MTN mobile money platform.
In a post to celebrate the 4th anniversary of Qwickloan, the CEO of Afb Ghana, Arnold Parker posted today November 30, 2021, that, “four years ago today, together with our partners MTN and Jump, we launched what has arguably become Ghana’s most utilized financial product -Quick loan.
“In the 4 years that Quickloan has been in existence, we have disbursed over ghc7billion to well over 4.2 million people. Interesting the Quickloan anniversary comes at a time when heated discussion on the e-Levy rages on”. Arnold Parker stated.
He continued “If I plug in the proposed e-Levy rate into our financials, Quickloan would cease to exist within a year. Yet it is a product like Qwikloan, which has been a lifesaver for millions in their times of need, that has the potential to transform this economy”.
Source: Mybrytfmonline.com/Obed Ansah
