Kofi Adams has called for the urgent removal of the Electronic Levy (E-Levy), citing its detrimental effects on Ghana's cashless economy and its broader implications for the cost of handling physical cash.
Speaking about the financial strain caused by cash-based transactions, the Minister for Sports and Recreation and Member of Parliament for the Buem Constituency highlighted the hidden costs of using physical money, including its impact on the Bank of Ghana's budget. "If you look at the cost of reprinting notes, it is so high that we spend more.
Physically handled cash becomes dirty and worn out within a short time, and then we must reprint.
This is a burden on the system," he noted on GHOne in an interview monitored by MyNewsGH.
