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
NPA hosts second downstream compliance workshop to strengthen petroleum sector standards
11:23GFZA CEO tours Tema Free Zone Enterprises to strengthen strategic partnerships
11:05Finance Minister vows lasting economic stability and lower food prices in meeting with FABAG
08:46Bawumia’s Gold for Reserve Programme is anchoring the Cedi – Kofi Bentil
13:27DVLA opens new office in Adentan, CEO expresses gratitude to all stakeholders
08:27President Mahama delivers on 24-hour economy promise within first 120 days
01:34Gov't inaugurates task force to oversee establishment of Ghana’s national airline
13:57NPA boss heaps praise on Finance Minister and BoG for stabilising Cedi, fuel prices
11:18President Mahama sets $10 billion target for non-traditional exports by 2030
03:34Hand over Saglemi housing project to TDC- Parliamentary Select Committee to gov't
04:51