Gov't Raked In GH¢1.19bn Revenue From E-levy In 2023 - John Kumah

The E-levy, a tax on electronic transactions, was introduced by the government of Ghana in 2022 to raise revenue for development projects and social interventions. In 2023, the E-levy generated a whopping GH¢1.19 billion, which was used to fund various initiatives to tackle the unemployment challenge in the country.

According to the Deputy Minister of Finance, Dr. John Kumah, who spoke at the media launch of the Wealth and Jobs Expo Ghana, the government allocated part of the E-levy revenue to its YouStart Programme, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme. These programmes aim to support young entrepreneurs, startups, and small businesses with training, mentoring, funding, and market access.

Dr. John Kumah revealed that the Ghana Statistical Service reported that about 1.5 million Ghanaian youth were unemployed as of Wednesday. He said that the government was committed to addressing this situation by investing in the private sector, which is the engine of growth and job creation. He added that the government would also partner with private institutions like Wealth and Jobs Expo and other groups that are willing to help create jobs and businesses in the private sector.

Dr. John Kumah also highlighted the government’s efforts to attract more investments, both domestic and foreign, into the country, especially in strategic sectors that have the potential to create more jobs. He said that the government’s growth strategy was projected to create about 500,000 jobs in the medium term.

He emphasized the need for more young people to embrace entrepreneurship as a viable career option and a solution to the unemployment problem. He said that if 10% of the 1.5 million unemployed youth became entrepreneurs and created an average of 100 jobs each, the unemployment problem would be almost solved.

The E-levy is not only a source of revenue for the government, but also a catalyst for job creation and entrepreneurship in Ghana. The E-levy is helping to transform the lives of many young people who are taking advantage of the opportunities and support available to them. The E-levy is making Ghana a more prosperous and inclusive nation.