GCNet presents final dividend of GH¢17m to gov’t

April 11, 2017
Source: Norvan Acquah - Hayford/thebftonline.com/Ghana
GCNet presents final dividend of GH¢17m to gov’t

The Ghana Community Network Services Limited (GCNet) has presented a cheque for GH¢17million to government.

The amount represents the final payment of dividend for 2016, as the company had earlier paid a dividend of GH¢10 million.

The latest cheque, presented to the Finance Ministry on behalf of government, brings the total dividend paid for the 2016 financial year to GH¢27million.

Dr. Nortey K. Omaboe, the Executive Chairman, GCNet, who presented the cheque to the Minister of Finance, Ken Ofori-Atta, said shareholders of the company from inception had agreed to support revenue mobilisation of the government.

He said in addition to systems deployed to block loopholes in revenue, the company has also committed itself to ensure that its activities contribute to increasing government’s revenue

“We have been remarkably consistent in the area of the statutory declaration and have also pursued a fairly aggressive dividend policy to ensure that dues are paid to Government. And let me say that government’s investment in GCNet has been very rewarding, and also showcases how Public-Private Partnership (PPP) can be effective and mutually rewarding.

As the pioneer single window operator in the country since 2002, GCNet provides e-Solutions to the government by offering electronic platforms for revenue mobilization and trade facilitation, easing trade processes with system availability nationwide,” Dr. Omaboe explained.

Dr Omaboe further stated that the dividend payments had been made within the context of some investments that were being made by GCNet to enhance the various systems that it had deployed.

He further explained that in 2016, the government received over GH¢30million in corporate taxes from GCNet, demonstrating the company’s commitment to live by its core tenets anchored on integrity, innovation, professionalism and service delivery.

Receiving the cheque on behalf of the government of Ghana, the Minister of Finance Ken Ofori-Atta, commended the Board and Senior Management of GCNet.

He stated that the payment of the dividend by GCNet was timely given the huge revenue gap that needs to be closed to deliver on the many developmental projects the government has promised.

The Minister of Finance then pledged the government’s commitment and support for GCNet to remain the model of Public Private Partnership (PPP) that has continuously shown leadership in innovation and service delivery in its core mandate of enhancing revenue mobilisation.

Dr Omaboe who is the board chairman of GCNet was accompanied by some senior management team members, including the General Manager, Mr Alwin Hoegerle; Executive Director, Mr Emmanuel Darko ; and Strategy and Communications Manager, Mrs Aba Lokko.