President Nana Addo Dankwa Akufo-Addo is expected to sign the contentious Electronic Transfer Levy (E-levy) policy document into law later this week.
Minister of Parliamentary Affairs and Majority Leader, Osei Kyei-Mensah-Bonsu, said this at a news conference on Tuesday, March 29, 2022.
Despite the Minority Caucus’ departure, Parliament adopted the bill after making changes to it on Tuesday.
“President [Nana] Akufo-Addo would assent to the bill as soon as feasible,” he stated during a press conference, answering questions from media.
Before the policy document is presented to the president for approval, Kyei-Mensah-Bonsu pointed out that the permitted bill will be fine-tuned by a legislative committee to ensure that all necessary portions are effectively captured.
“Because of the [Black Stars] match, I’m not sure the committee can meet today [Tuesday].” The Parliamentary Affairs Minister added, “I’m optimistic it will be ready for the President’s assent by the end of the week.”
The E-levy measure has long been opposed by the Minority group in parliament and some telecoms companies, but the administration argues that it will restore economic confidence.
After it was submitted to Parliament under the certificate of urgency a few months ago, Minority and Majority MPs took turns discussing the bill, with the usual entrenched stances.
The Minority Leader, Haruna Iddrisu, indicated during the second reading on Tuesday that his party will not support the E-levy in any form.
The Minority then staged a walkout in protest, but this gave the Majority the upper hand, allowing them to approve the bill on the second and third readings.
If enacted by the president, the Electronic Transfer Act will impose a 1.5 percent tax on all electronic money transactions.