Minority Leader Alexander Afenyo-Markin has called on the finance minister to urgently explain the circumstances surrounding…
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Finance Minister must explain 0.75% MoMo tax – Minority
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Read Time:1 Minute, 23 Second
Minority Leader Alexander Afenyo-Markin has called on the finance minister to urgently explain the circumstances surrounding the introduction of a proposed 0.75% charge on mobile money transactions.
Speaking to the press on Tuesday May 26, the caucus says it has intercepted a statement from the Bank of Ghana indicating that from June 1, transfers from bank accounts to mobile money wallets will attract a 0.75% levy, while direct wallet-to-bank transactions will also be affected.
According to the Minority, although earlier public notices were issued on the matter, the process raises questions about how the levy is being implemented and enforced.
“We have in our hand a statement that has just been released by the Bank of Ghana,” the Minority noted, adding that the development requires immediate clarification from the Finance Ministry and relevant authorities.
The group is also questioning what it describes as the use of the central bank and a private sector company to enforce the levy, arguing that the arrangement should have been fully scrutinised during the budget approval process in Parliament.
“The Finance Minister must come to Parliament on Thursday to explain the circumstances leading to the imposition of these 0.75% charges on mobile money transactions,” the Minority demanded.
They insist they are not only interested in any suspension of the directive but want full clarity on how the decision was arrived at.
Beyond the levy issue, the Minority used the platform to criticise the governing National Democratic Congress (NDC), accusing it of inconsistency and failing to deliver on its promises.
The group described the situation as evidence of what it called broken promises and lack of policy consistency.
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NDC is a government of propaganda – Minority
Minority Leader Alexander Afenyo-Markin has strongly criticised government, accusing it of failing to deliver on key…
NDC is a government of propaganda – Minority
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Read Time:1 Minute, 24 Second
Minority Leader Alexander Afenyo-Markin has strongly criticised government, accusing it of failing to deliver on key promises and describing the administration as a “government of propaganda.”
According to the Minority caucus, the governing National Democratic Congress (NDC) has been inconsistent in its messaging and unable to implement the commitments it made to Ghanaians.
“We are simply saying NDC is a government of propaganda. They don’t believe in what they say,” the MP stated.
He alleged that the government has failed to deliver on its flagship job creation promise.
“They promised one job, three shifts. As we speak, they have failed on that one job, three shifts,” he said.
The MP also questioned government’s handling of agricultural policies, particularly cocoa pricing.
“They promised cocoa farmers that a bag of cocoa will sell at GH¢7,000. They came and have rather reduced it. At least they should have maintained the GH¢3,100 that Akufo-Addo left,” he added.
He further claimed that rice farmers have not benefited from the promised off-take system, arguing that imported rice is now cheaper than locally produced rice.
“They promised rice farmers that they were going to have an off-take system. As we speak, it is even cheaper to buy imported rice than locally produced rice,” he said.
The Minority also said maize and yam farmers are expressing frustration over what they describe as worsening conditions in the agricultural sector.
“Maize farmers are complaining. Yam farmers are complaining. Cocoa farmers are complaining,” he noted.
The Minority maintains that within a short period in office, the government has failed to translate its campaign promises into tangible results, particularly in agriculture and job creation.
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Ghana moves from unsustainable debt to moderate risk for first time since 2013 – Ato Forson
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Read Time:1 Minute, 42 Second
Finance Minister Dr. Cassiel Ato Forson has announced that Ghana has moved from an unsustainable debt position to a moderate risk of debt distress for the first time since 2013.
Dr. Forson announced on the floor of Parliament on Tuesday, May 26, while presenting some statutory reports to the House.
The reports included the Annual Report on the Management of the Energy Sector Levies, the Petroleum Holding Fund, the Annual Public Debt Report, and the Public-Private Partnership Report.
Addressing Parliament during the presentation of the Public Debt Report, the Finance Minister said the latest assessment reflected a major improvement in Ghana’s public debt situation.
“Mr. Speaker, I’m proud to inform the House that Ghana, for the first time since 2013, has achieved a moderate risk of debt distress, moving from unsustainable debt to high risk of debt distress and now to a moderate risk of debt distress,” Dr. Forson stated.
He added that the details were contained in the report and would subsequently be discussed by the committee.
The Finance Minister also presented the reconciliation report on the Petroleum Holding Fund for the 2025 financial year, noting that the submission was in fulfillment of requirements under the Petroleum Revenue Management Act.
“Right Honourable Speaker, this happens to be an obligation imposed on us as part of the Petroleum Revenue Management Act that the Minister responsible for Finance must submit a report of the previous year to Parliament detailing what accrued to the state in terms of the petroleum funds and how this amount was used,” he said.
Dr. Forson added that the report provided a detailed account of the petroleum revenues received by the state and how the resources were utilised.
“And so, Mr. Speaker, I’m only presenting a report detailing what was accrued to the state and how we actually utilised the resources,” he added.
The improvement in the country’s debt distress rating is expected to strengthen confidence in Ghana’s economic outlook as the government continues to implement fiscal reforms aimed at restoring macroeconomic stability.
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NDC using BoG, private sector company to enforce 0.75% MoMo levy – Minority Leader claims
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Read Time:1 Minute, 29 Second
The Minority in Parliament has accused the governing National Democratic Congress (NDC) of attempting to introduce a 0.75% charge on mobile money transactions through the Bank of Ghana (BoG) and a private sector fintech arrangement, instead of the formal parliamentary process.
Addressing a press conference on Tuesday, May 26, the Minority Leader, Alexander Afenyo-Markin alleged that the government was relying on regulatory institutions and private sector platforms to implement what he described as “hidden charges” on mobile money users’ wallet-to-bank transfers.
“For the purposes of this levy, they are using the Bank of Ghana and a private sector fintech company as a vehicle to enforce this levy,” he claimed.
According to him, the proposed levy on wallet-to-bank transfers was expected to take effect from 1st June but was later suspended by the Bank of Ghana following public backlash.
He also questioned the process used to introduce the charge, arguing that it bypassed Parliament and the standard budgetary approval framework.
Afenyo-Markin contrasted the situation with previous administrations, insisting that similar fiscal measures were introduced through the national budget and approved by Parliament before implementation.
He further called on the Finance Minister to appear before Parliament to explain the circumstances surrounding the proposed charge and its suspension.
The Minority Leader stressed that Parliament must be fully involved in any policy that imposes charges on financial transactions, particularly in the rapidly growing mobile money ecosystem.
“We are not interested in the suspension. We are interested in how this was introduced and why Parliament was not engaged,” he said.
The Bank of Ghana has announced that the levy has been suspended for further stakeholder consultations. However, the Minority maintains that the process raises serious questions about transparency and accountability in fiscal policy implementation.
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Minority Leader questions “further consultation” claim in suspended 0.75% MoMo charge
The Minority in Parliament has raised concerns over the Bank of Ghana’s decision to suspend a…
Minority Leader questions “further consultation” claim in suspended 0.75% MoMo charge
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