Introduce tax levy and there will be no MTN Qwikloan anymore- CEO of AFB Warns

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The Chief Executive Officer of Afb Ghana, operators of Qwikloan services on MTN has hinted that his outfit will halt the functionality of the service should the proposed electronic transaction levy (e-levy) be implemented. 

In a Facebook post, the CEO of Afb Ghana Arnold Parker warned that the service will go into hibernation if the tax finally takes effect while writing on social media to commemorate the 4th anniversary of the service.

“Four years ago today, together with our partners MTN and Jump, we launched what has arguably become Ghana’s most utilised financial product -Quick 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 Quickloan anniversary comes at a time when heated discussion on the e-Levy rages on,” Arnold Parker stated.

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He continued “If I plug in the proposed e-Levy rate into our financials, Quickloan 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”.

In a previous post on the same subject, Mr Parker had this to say;

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“Let’s turn our attention to building our economy now. A country that’s supposed to have a GDP of $600 billion should not be ok when its GDP is $60 billion. For many decades now we have operated way below our potential and robbed millions of our kith and Skin a decent life. The more free things we promise the people, the more businesses we must allow to flourish to find the freebies. It is time to build and grow Ghanaian businesses.

Qwikloan is a fast, easy, and convenient mode of enabling customers to access loans using their MTN mobile money platform.

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