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Business News of Monday, 22 November 2021


E-levy will enhance youth entrepreneurship agenda - Finance Minister

Finance minister Ken Ofori Atta Finance minister Ken Ofori Atta

Ofori-Atta believes e-levy serves as a platform for burden sharing

About 6.9billion to be generated from e-levy

Volta Fair organizers lauded for initiative

Finance Minister Ken Ofori-Atta has justified the introduction of the e-levy saying it is a right step in achieving youth entrepreneurial goals in Ghana.

“We as a nation decide to burden share to break this problem. So, I’m very excited to see entrepreneurs here, and it gives me hope about where we are going with the e-levy,” he spoke to JoyNews after interacting with exhibitors at the ongoing Volta Fair at the Ho Sports Stadium.

According to him, changes in trends around the world’s economies have necessitated a change in some policy innovations in the country. “If you look at your 2.2 million youth in 1960 and 10.8 million, it cannot be that we do things like we used to. We all have to stretch our minds as to what we want to achieve.

Mr Ofori-Atta explained that the government recognizes the challenges of youth unemployment. “We know that it takes the invisible hand of the state to pick people up. And so, this historic 10 billion intervention that we have had and finding ways for burden-sharing. So, we recognize the problems of youth unemployment, the problem of roads, the problem of debt and we as a nation have decided to share the burden,” he said.

On concerns raised by the minority in Parliament, the finance minister said it is expected since every change comes with resistance. He believes that in spite of any resistance, Ghanaians should focus on how to make the e-levy sufficient in the country.

He lauded the organizers of the Volta Fair saying such events provide the platform for young people to participate in the new paradigm shift to job creation.

Government is projecting to get about ¢6.9 billion from the proposed tax by the end of 2022.