E-Levy Should Be A Special Purpose Levy modernghana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from modernghana.com Daily Mail and Mail on Sunday newspapers.
.But Against 1.5% E-Levy By Akufo-Addo's Gov’t The hypocrisy of former President John Mahama and the opposition National Democratic Congress (NDC) is legendary. Mr. Mahama's government as a result of efforts to revive the economy due to the persistent local issue of ‘Dumsor’ forced Ghanaians to pay over 116% Levies…
The Business & Financial Times
July 7, 2021
Energy Minister, Matthew Opoku Prempeh
Energy sector debt, approximately GH¢8billion, has been refinanced over the last four years ending 2020 through the Energy Sector Levy Act (ESLA), the annual report on management of energy sector levies and accounts has shown.
Of the total amount, GH¢1.87billion was settled in cash to creditors while the remaining GH¢6.19billion was covered by debt-swaps – whereby the creditor enters into a bond purchase agreement with the issuer.
In 2018, a total of GH¢5.45billion was novated to creditors, comprising of about GH¢3.92billion in debt-swaps and GH¢1.53billion in cash settlement; while in 2019 GH¢988.78million was settled, with GH¢648.93million in debt-swaps and GH¢339.85million in cash settles. Last year, ESLA novated about GH¢1.62billion entirely in debt-swaps.