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

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
Trending Business
Gov't to establish farms in all Senior High Schools – Agric Minister reveals
10:07Chief of Staff launches GIPC's investment mapping project to spur inclusive growth
08:36President Mahama proposes aviation partnership with Portugal to reestablish Ghana’s national airline
14:04Gov't to capitalise Agricultural Development Bank in 2026 – Finance Minister
02:49No room for excessive salaries in SOEs – Ato Forson warns CBG board
04:38GIPC to launch groundbreaking nationwide investment mapping
01:56Gov't has made a bold step to recapitalise NIB – Ato Forson
15:43Finance Minister Ato Forson inaugurates reconstituted NIB Board
15:35TerraSol Energy joins forces with FasterCapital to revolutionise plastic waste-to-energy market
17:53Ghana secures $30million grant from China
11:05