WATCH: Ghana's proposed new 1.75% tax on electronic payments has traders worried
Sales boomed at his 20-year-old store, as customers no longer had to pay cash for household goods that include mosquito repellent, batteries, razors, soap and superglue.
The tax, which would cover mobile money payments, bank transfers, merchant payments, and inward remittances, could raise up to 6.9 billion Ghanaian cedi in 2022, according to official estimates."We have prices of goods going up each and every day," Siaw said. "If a customer must pay a higher price for a commodity, then after paying that high price he also must pay for the e-levy, it won't be good for business.
But analysts said it could reassure investors and lenders of Ghana's ability to make tough choices to generate revenue, helping to narrow bond spreads. Ghana's $1 billion 2026 Eurobond is trading below par at 79.25 cents, with a yield of more than 18%, according to Refinitiv data.
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