Chief Executive Officer of Afb Ghana, operators of MTN Qwikloan, Arnold Parker has announced that that the Qwikloan services on telecommunication network MTN would come to a halt if government introduce the electronic transactions levy (E-levy).

The Finance Minister, Ken Ofori-Atta reading the 2022 budget statement in Parliament disclosed that the government has intended to introduce a 1.75% tax on all electronic transactions.

After the announcement, a lot of Ghanaians have kicked against the yet-to-introduced policy with a section asking the government to rescind its decision.

Facebook post on November 30, 2021, by the CEO of Afb Ghana Arnold Parker to celebrate four years anniversary of Qwickloan cautioned that the Qwikloan services would cease should government go ahead with the implementation of the e-levy.

“Four years ago today, together with our partners MTN and Jump, we launched what has arguably become Ghana’s most utilised financial product -Qwick loan. In the 4 years that Quickloan has been in existence, we have disbursed over Ghc7billion to well over 4.2 million people. Interesting that the Qwickloan anniversary comes at a time when heated discussion on the e-Levy rages on,” he said.

He continued “If I plug in the proposed e-Levy rate into our financials, Qwickloan would cease to exist within a year. Yet it is a product like Qwikloan, which has been a lifesaver for millions in their times of need, that has the potential to transform this economy”.

No more Qwikloan if E-levy is implemented — CEO of Afb warns