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E-levy Delivering Only 10% of Estimated Revenues; Debt Levels Dangerously High – Gabby ‘Cries’ Over Economy
A member of the ruling New Patriotic Party Party (NPP), Gabby Otchere-Darko, has cried over the state of revenue generation in the country.
According to him in a tweet Monday morning, “after 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues”.
” . . Our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi like most currencies, struggling against the dollar . .” he tweeted.
IMANI Research
Researchers at IMANI Africa are predicting that government’s quest to raise some ¢4.5 billion from the Electronic Transactions Levy (e-levy) is not likely to be met.
This is because most Ghanaians sampled in a survey say they have drastically reduced their mobile money transactions since May 1, when the tax law was implemented.
The government pushed through the levy despite heated opposition with experts warning of a reduction in usage of mobile money platforms.
IMANI Africa, a think tank, has been investigating this. Data was collected through a survey of 1,677 people from May 31 to June 17.
According to IMANI, “85.9 per cent of pollsters indicated that they are not in support of the mobile money transaction, and 13 per cent indicated that they are somehow in support.”
King Carl Tornam Duho, a researcher at IMANI Africa, said, “only 7.6 per cent say they are not using Mobile money for transactions at all.”
Meanwhile, a Principal Revenue Officer and Head of the Project Management Unit for GRA, Isaac Kobina Amoako, say it is too early for firm conclusions to be drawn on the impact of the levy.
This, according to him, is because data is still being churned.
Ghana in a perilous debt situation under NPP – Kwabena Duffour
A former Governor of the Bank of Ghana (BoG), Dr. Kwabena Duffuor, has said the ruling NPP must be humble enough to admit that the country is currently facing a perilous debt situation.
In a note, he pointed out that the NPP government has borrowed more in the six years than the erstwhile NDC administration did in eight years.
Dr. Duffour was responding to claims made by the Majority Leader, Osei Kyei-Mensah-Bonsu, which suggested the NPP’s borrowing was better than the NDC’s.
“Ghana’s public debt stock stood at GH¢351.8 billion as at end-2021. The debt stock increased from GH¢9.8 billion in 2008 to GH¢36.0 billion in 2012 and then to GH¢122.3 billion at end-2016. By the end of 2021, the debt stock had reached GH¢351.8 billion,” he noted.
This, he said, means that “the NPP Government from 2001–2008 left a debt stock of GH¢9.8 billion in 2008 and that “under the current NPP Government, the debt stock has increased by GH¢229.5 billion from 2017–2021.”
He further stated: “Does the Majority Leader of Ghana’s Parliament not know these facts, and is this what supports his claim that the NPP has a better borrowing record than the NDC?
“Or is the Majority Leader peddling falsehoods in order to play politics during what can be considered one of the most dire times in our nation’s history? Whatever the reasoning behind the majority leader’s statements, the facts show that they are false and should be corrected as publicly as they were stated.”
Dr. Duffour, therefore, urged the NPP to be humble and admit that “things have not gone to plan over the last 5–6 years of the NPP Government and the country is in a more perilous debt situation today than at any time between 2009–2016.
“Such an admission would hopefully then establish a basis to rally all Ghanaians towards finding lasting solutions,” he added.
Source: Peacefmonline.com
Entertainment
Demolition of Fantasy Dome unfair — Mark Okraku-Mantey
Months after the Fantasy Dome was dismantled to make way for construction at the Ghana International Trade Fair site, the Deputy Minister of Tourism, Arts and Culture, Mr Mark Okraku-Mantey, has expressed concern over the manner the facility was destroyed.
In an interview on Daybreak Hitz with Andy Dosty, Mr Okraku-Mantey criticised the handling of the dome’s dismantling, suggesting that it could have been done without causing damage.
“I don’t think that leadership gave instructions that they should do what happened. The structure was a prefab but I hear the people destroyed it. That one, we cannot defend it. It is unfair to him (owner). Sometimes, you give instructions and people will go and do things that will make you look bad,” he stated.
When asked about any punitive measure against the workers responsible for the destruction, Mr Okraku-Mantey clarified that the Trade Fair does not fall under his ministry.
He said he had previously contacted the owner, Leslie Quaynor, to discuss relocating the dome, and even suggested the National Museum as a potential site, though it was too small.
The demolition of the 20,000-seater Fantasy Dome occurred on March 16, 2024.
According to Dr Agnes Adu, CEO of the Ghana Trade Fair Company Limited, the action was taken after multiple notices were given to Quaynor to vacate the premises for redevelopment, as per their tenancy agreement.
Dr Adu noted that all previous tenants had complied except for the Fantasy Dome.
Quaynor, in an interview with JoyNews, confirmed that his lease had ended, and was in the process of relocating the dome.
He had requested an extension, which was denied, leading him to seek a writ and an injunction from an Accra High Court to halt the demolition.
Despite this, the demolition proceeded, causing significant damage to the structure.
Quaynor described the incident as a major setback, not only for his business but also for the entertainment industry, which relies on venues like the Fantasy Dome.
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Youth urged to take proactive stance on ozone depletion
•Mr Joseph Amankwah, first counting from, some officials from EPA and UNDP in group picture with the student
Mr Joseph Amankwah, the Director of Ozone Layer and Climate Change at the Environmental Protection Agency (EPA), has urged the youth to take a proactive stance on issues related to ozone depletion, emphasising that their future would be most affected by its consequences.
Speaking during a student engagement event at the Ghana Secondary School (GHANASS) in Koforidua, he highlighted the critical role young people played in tackling climate-related challenges.
Mr Amankwah explained that human activities, such as the use of certain chemicals, were significantly contributing to the depletion of the ozone layer and driving climate change.
He said it was important to educate the youth on these issues, encouraging them to share this knowledge with their families to foster a broader understanding and active participation in climate action.
He urged the education sector to integrate lessons on the ozone layer, the causes of its depletion, and its links to climate change into the curriculum.
The event, organised by the EPA in collaboration with the United Nations Development Programme (UNDP), was designed to foster environmental awareness and promote a sense of responsibility among young people.
Mr Amankwah noted that ozone layer depletion was affecting everyone, including children, as it alters weather patterns and threatens the natural environment.
He highlighted the need for young people to develop ‘green skills’ to adapt to the challenges of climate change and to understand ways to combat it.
He added that World Ozone Day, observed every September, would focus on youth engagement in environmental issues, to help them understand the long-term consequences of ozone depletion and climate change.
Mr Amankwah also discussed the harmful impact of chlorofluorocarbons (CFCs), a major chemical contributor to ozone depletion.
He explained that household appliances such as refrigerators and air conditioners were common sources of CFC emissions in Ghana.
Many uncertified technicians work on these appliances, often releasing harmful chemicals into the atmosphere due to improper handling, he noted.
To address this, he urged appliance repairers to obtain proper certification and training, emphasising that unqualified repairs not only harm the environment but also endangered public health.
From Ama Tekyiwaa Ampadu Agyeman,
Koforidua
