The Business and Financial Times newspaper is reporting that banking halls across the national capital are under siege from customers who are trooping to withdraw their monies in response to the Akufo-Addo government’s thievish e-levy tax.
According to the paper, the panic withdrawals happened in banks located at places including East Legon, Airport, Osu and Madina among others.
Quoting worried bank managers, the paper said there was worry about the long queues that formed in the banking halls from cash withdrawals
B&FT also reports that the withdrawals are mainly by mobile money agents who are under pressure from customers seeking cash withdrawals. Automated Teller Machines (ATMs), it said were not left out.
“Several branch managers of banks who have spoken to the B&FT note that they have been witnessing increasing numbers of withdrawals since Friday, April 29 and the trend continued yesterday – and it isn’t because of the long holiday, but rather customers trying to avoid the E-levy,” the paper reported.
It quoted one bank manager as saying, “There is a crowd in my banking hall. Over the weekend, we had to refill the ATM every single day from Saturday to Tuesday. People are using the cards a lot,” a branch manager of one of the banks in the country said while refusing to mention his/her name because he/she has not been authorized to speak on the subject.
The Akufo-Addo government on Sunday, May 1, 2022, began implementation of the controversial Electronic Transaction Levy – with many Ghanaians still expressing their displeasure and disapproval.
With the delayed start to implementation due to significant opposition to the levy in parliament by the minority, reduction in the rate from 1.75 percent to 1.5 percent and the negative sentiments that heralded the levy’s proposal last year, the target of GH¢6.9billion expected in revenues has now been revised to GH¢4.5billion.