Sunday, 25 February

Ghana loses GHS300M/year to online betting – Kyei-Mensah-Bonsu

Business
online betting

The government has said it intends plugging the holes in online betting to stop an annual estimated leakage of GHS300 million.

Caretaker Finance Minister Osei Kyei-Mensah-Bonsu told Parliament on Friday, 12 March 2021 when he presented this year’s budget that “gaming has become a major income earner all across the globe and a significant source of government revenue”.

However, he noted that the “influx of online betting and automation of the once-totally-manual process, has changed the character of revenue sources from that industry”.

“It is estimated that Ghana loses over GHS300 million annually in revenue due to leakages in the sector”, he revealed.

The Ministry of Finance and the Ministry for the Interior, the Majority Leader noted, “will co-supervise the gaming industry and will soon consult with stakeholders to formulate a comprehensive policy to improve revenue mobilisation from this source”.

Source: classfmonline.com