“Scrap e-levy; link informal groups to digital payments eco-system”— microfin expert says
Microfinance expert and executive secretary of Rural Focus Africa (RUFA), Mr. Ishmael Otchere, has indicated that taxes on electronic transactions remain a major drawback to government’s efforts aimed at roping in marginalized persons and informal businesses into the formal banking bracket to advance financial inclusion. He said that the controversial e-levy must be scrapped to enable financial institutions leverage the power of electronic and other digital payment platforms to mobilize adequate funds to lend to businesses in critical sectors of the economy—that is when the real impact of the digitalization of the financial sector could be realized. Mr. Otchere, whose...
