E-Levy removal to take effect by end of March – Ampem Nyarko

Deputy Finance Minister Thomas Ampem Nyarko has confirmed that the removal of the controversial Electronic Levy (E-Levy) is set to take effect by the end of March 2025, pending the approval of the national budget and appropriation.

Speaking on Channel One TV on Tuesday, March 18, Nyarko clarified that the levy would be scrapped once Parliament finalizes the budget process.

“It will take effect the moment the budget and the appropriation is approved, and that will be by the 31st of this month. So all things being equal, from April you will see that all things will be done,” he stated.

Beyond tax reforms, he highlighted the need for a thorough review of Ghana’s investment climate. While acknowledging that the country’s democratic stability makes it an attractive destination for foreign investors, he pointed out that other challenges continue to deter investment. “We as a country have not fully leveraged on good democratic credentials. A lot of foreign investors prefer Ghana because of our stable political environment but someway somehow other factors are driving investors away,” he noted.

Nyarko emphasized the importance of identifying and addressing these obstacles through deeper analysis and stakeholder engagement, urging discussions on what Ghana “might not be doing right.”