If the proposed electronic transaction levy (e-levy) is adopted, the Chief Executive Officer of Afb Ghana, the operators of MTN's Qwikloan service, has warned that the service may be halted.
While commenting on social media to honor the service's fourth anniversary, Afb Ghana CEO Arnold Parker cautioned that if the tax finally takes effect, the service will go into slumber.
"Four years ago today, we launched what has undoubtedly become Ghana's most widely used financial product, the Quick loan, with our partners MTN and Jump." We have disbursed approximately Ghc7 billion to well over 4.2 million people in the four years that Quickloan has been in operation.
"It's interesting that the Quickloan anniversary falls at a time when the e-Levy debate is still raging," Arnold Parker observed.
"If I feed in the suggested e-Levy rate into our financials, Quickloan would be defunct in a year," he continued. Yet it is a product like Qwikloan, which has helped millions of people in dire straits, that has the capacity to alter our economy."
Mr Parker had this to say on the matter in a prior post:
"Now is the time to focus on growing our economy. When a country's GDP is meant to be $600 billion, it shouldn't be okay if it's just $60 billion. We have been operating much below our capacity for decades, robbing millions of our kith and skin of a good existence. The more freebies we promise people, the more businesses we need to enable to thrive in order to locate them. It's time to start and expand Ghanaian companies.
Qwikloan is a quick, simple, and convenient way for users to obtain loans through their MTN mobile money network.
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