Gov’t to leverage funds from E-Levy to raise bonds - Amoako-Atta reveals

The Minister for Roads and Highways, Kwasi Amoako-Atta has disclosed that the government plans to leverage the Electronic Transaction Levy (E-Levy) when it is approved to raise bonds.

The controversial E-Levy was introduced to Parliament late last year when the Finance Minister, Ken Ofori-Atta presented the 2022 Budget Statement and Economic Policy proposal of the government.

After five months, the government has failed to secure the approval of Parliament for the implementation of the levy.

Speaking on the floor of Parliament on Friday, March 4, 2022, Kwasi Amoako-Atta who is the Roads and Highways Minister told the house that the E-Levy will be securitized for loans to address challenges in the roads sector.

“The government in its wisdom has proposed the passage of the E-levy to bring more revenue to build the road infrastructure of our country for all of us.

“So the government is looking forward for the passage of the E-levy that will bring in greater revenue that would be securitized and then used to raise bond if possible to build the road infrastructure,” Minister Kwasi Amoako-Atta shared.

Despite the determination of the ruling government to implement the Electronic Transaction Levy, it remains unclear if it will have its way.

This is because the Minority in Parliament has consistently stressed in an assurance to the Ghanaian public that it will not allow for the house to pass the new levy.

It describes the E-Levy as draconian and insists that the government must abandon plans to impose such a tax on the citizenry.