GCNet integral to gov’t revenue mobilisation efforts – Finance Minister

The Finance Minister, Ken Ofori Atta, has acknowledged Ghana Community Network Services Limited (GCNet) as integral to development of the country’s trade facilitation and revenue mobilisation agenda.

He said the technology interventions deployed by GCNet have been crucial in the prevention of revenue leakages as government seeks to intensify its drive to mobilise more revenue for implementing key development projects.

‘GCNet has been really integral to our whole issue of trade facilitation; and then, of course, revenues at the port. We’ve still got a long way to go: Revenue to GDP is about 12.6% and we need to move to 19%, so the interventions provided by GCNet are going to be very crucial for the way forward in terms of preventing leakages among others,” he noted

The Finance Minister made this known when he received a cheque for GH¢20,000,000 on behalf of the Ghana Revenue Authority (GRA). The amount represents the second-part dividend for 2018 and first-part dividend for 2019.

Presenting the cheque, Mr. Emmanuel Darko, Executive Director of GCNet, emphasised that payment of dividend over the years demonstrates the company’s commitment to supporting the determined and persistent revenue mobilisation initiatives from domestic and international trade streams.

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“It is indeed a pleasure for me to present to you GCNet’s dividend payment to government for a component of its shareholding in GCNet, which is held by the Ghana Revenue Authority (GRA). It is noteworthy in this regard that, besides the GRA, there is a further government stake in GCNet through the Ghana Shippers’ Authority (GSA) and GCB Bank, whose respective dividend payments have been made to them directly,” he said.

He reiterated GCNet’s resolve to work with government, GRA and all stakeholders in the trade facilitation ecosystem as it deploy e-applications that deepen efforts to increase trade facilitation protocols in order to speed up clearance times.

Mr. Darko called on government to focus on Post Clearance functions of the Customs Division of the GRA, as that also holds a key to addressing the challenge of leakages in the revenue collection chain.

GCNet’s tax payments through various statutory vehicles, for instance between 2016 and 2018, average GH¢72million per annum.

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