GCNet Pays Gh¢20 Million Dividend to Government

By David Adadevoh

The Ghana Community Network Services Limited (GCNet) has presented a cheque for GH¢20 million to the government as dividend for 2018.

The amount represents 20 per cent of government's 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 mobilisation and trade facilitation for development.

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

To this end, the Finance Minister 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 the government and urged it to continue supporting the government in addressing revenue mobilisation challenges.

Mr Emmanuel Darko, the Deputy General Manager of GCNet, reiterated the company's commitment to be at the forefront of revenue mobilisation and trade facilitation.

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

Mr Darko said as a trade development and facilitation company, GCNet would continue to support the government's revenue mobilisation effort through its 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, was ready to deploy new applications that would help address the challenges in enhanced revenue mobilisation.

Read Full Story