During his vetting before Parliament’s Appointments Committee on January 13, 2025, Finance Minister-designate Dr. Cassiel Ato Forson boldly reaffirmed his stance against the controversial Electronic Transaction Levy (E-Levy), stating that if given the opportunity, he would take immediate steps to abolish it.

“I’ve written articles against the E-Levy. I championed the opposition against it, and I stand by them,” Dr. Forson declared in response to questions from the committee.

His remarks were a direct reminder of his long-standing position on the issue, which he views as detrimental to the country’s progress, particularly in the realm of financial technology (FinTech).

Dr. Forson went further, expressing his belief that the E-Levy, which was introduced in 2022 as a means of increasing government revenue, is problematic for Ghana’s transition towards a cash-lite economy.

“Mr. Chairman, the E-Levy is neither a direct tax, indirect tax, nor excise tax. I don’t know how to classify it as a tax practitioner,” he remarked. This uncertainty about its classification has been one of the main points of contention for critics of the tax.

While acknowledging that the E-Levy does generate some revenue, Dr. Forson emphasized its negative impact on Ghana’s fintech ecosystem. “The E-Levy harms the progress towards a cash-lite economy in FinTech.

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“We need to abolish the E-Levy,” he asserted. This position is not a new one for Dr. Forson, who has repeatedly spoken out against the tax in the past, and he made it clear that his stance remains unchanged.

The Finance Minister-designate went on to highlight the specific timeline within which he would act if approved.

“Given the opportunity, I will abolish the E-Levy,” Dr. Forson said, adding, “I want to restate that position that if approved as part of the first budget, I will be privileged to announce that we will abolish the E-Levy as part of our first budget.”

This promise aligns with an earlier commitment made by former President John Dramani Mahama, who pledged during his campaign that the NDC government would remove the E-Levy within the first 120 days of taking office.

“I can assure you, the E-Levy will go within the 120 days calendar,” Dr. Forson concluded, reiterating the NDC’s commitment to undoing one of the most controversial policies of the Akufo-Addo administration.

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