GCNet pays GH¢20 million dividend to government

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Business News of Thursday, 25 July 2019

Source: GNA

File Photo

The Ghana Community Network Services Limited (GCNet) on Wednesday presented a dividend of GH¢20 million to government for 2018 financial outturn.

The amount represents 20 per cent government shareholding in GCNet, which is held by the Ghana Revenue Authority.

Receiving the cheque, the Finance Minister, Mr Ken Ofori-Atta, reiterated the important role of GCNet in revenue mobilization and trade facilitation for development.

He said Ghana lagged behind peers in terms of revenue to Gross Domestic Product, which currently stands at 12.6 per cent while most countries are doing about 19 per cent.

In this direction, Mr Ofori-Atta said GCNet services were crucial in bridging the gap and expressed the hope that the two parties would engage more to move forward the frontiers of revenue generation.

Mr. Ofori-Atta acknowledged GCNet’s consistency in the payment of dividend to government and urged it to continue supporting government in addressing the challenges, with regard to revenue mobilisation.

On his part, Mr Emmanuel Darko, the Deputy General Manager of GCNet, reiterated the company’s commitment to be at the fore-front of revenue mobilisation and trade facilitation.

He said the company had been consistent in the payment of dividend government through the GRA as well as statutory tax obligations.

Mr Darko said as a trade development and facilitation Company, GCNet had continue to support government’s revenue mobilization effort through our deployed services.

He said the company had deployed its TRIPS system at 69 Domestic Tax Revenue Division, which had significantly helped in the achievement of revenue targets.

GCNet, he said, is ever ready to deploy new applications that would help address the challenges in enhanced revenue mobilization.

GCNet is a Public-Private-Partnership (PPP) between government and other private entities, including Ecobank and GCB banks.



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