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Ofori-Atta [R] receiving the check of Mr Darko accompanied by MM. Sowah and Hoegerle at the presentation of the dividend to the government
The Minister of Finance acknowledged that Ghana's Community Based Network Limited (GCNet) was an integral part of the development of the country's trade facilitation and revenue mobilization program.
Ken Ofori-Atta said the technology interventions deployed by GCNet have played a critical role in preventing revenue losses, as the government seeks to intensify its efforts to leverage more revenue for the implementation of key development projects.
"GCNet has really been an integral part of our trade facilitation issue and, of course, port revenue. We still have a long way to go.
"Revenue relative to GDP is about 12.6% and we need to increase it to 19%, so the interventions provided by GCNet will be very important for leak prevention, among other things," he said. .
The Minister of Finance reported this when he received a check for 20,000,000 ¢ on behalf of the Ghana Revenue Authority (GRA). The amount represents the dividend of the second part for 2018 and the dividend of the first part for 2019.
Emmanuel Darko, Executive Director of GCNet, noted that dividend payments over the years reflect the company's commitment to supporting strong and persistent revenue mobilization initiatives from domestic and international commercial flows.
"It is a pleasure for me to present GCNet's dividend to the Government for a portion of its GCNet stake held by the Ghana Revenue Authority (GRA).
"It is interesting to note in this regard that, in addition to the GRA, the government holds an additional stake in GCNet through the Ghana Cargo Authority (GSA) and the GCB Bank, whose dividends were paid directly to them, "he said.
He reiterated GCNet's commitment to working with the government, GRA and all stakeholders in the trade facilitation ecosystem to roll out e-applications that reinforce efforts to increase trade facilitation protocols in order to speed up customs clearance times.
Darko urged the government to focus on the post-clearance functions of the GRA Customs Division, which was also essential to address the challenge of leaks in the revenue collection chain.
GCNet's tax payments through various statutory vehicles, for example, between 2016 and 2018, average $ 72 million per year.
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