Key Wins - One

Key Wins - One

Overall, KPMG in Ghana is supporting the efforts of the loan committee and other state agencies handling the Fund to effectively achieve the targets set for CAP. The firm will also work closely with NBSSI to ensure that the disbursement of the fund is transparent and meets all agreed standards. This is a great win for KPMG in Ghana considering that the job was highly contested by competition and other Accounting firms in Ghana. The project is being executed with resources across the firm. The engagement is estimated to run for four (4) years and will earn the firm a fee income of USD 400,000 per annum. Having won this opportunity, KPMG is committed to delivering value by providing support in the setup of the Fund as well as providing Technical Administration Support. Under the leadership of Anthony K. Sarpong (Senior Partner), KPMG in Ghana will leverage the CAP opportunity to project KPMG’s values and brand.

Imposition of Levy on Electronic Transfer (E-Levy)

The rate of the levy shall be 1.5% and shall be imposed on electronic transfers; “at the time of the transfer” by specific entities.

Specific entities required to charge the E-Levy are:

  • Electronic Money Issuers. That is payment service providers who issue electronic money.
  • Payment Service Providers. That is Corporate bodies licensed under the Payment Systems and Services Act, 2019 (Act 987) to provide payment services.
  • Banks. That is a body corporate with banking licence under the Banks and Specialised Deposit-Taking Institution Act, 2016 (Act 930).
  • Specialised Deposit-Taking Institutions. This is a body corporate which engages in the deposit-taking business in accordance with Act 930.
  • Other Financial Institutions to be prescribed by Regulations made under the Act.