Government to seal revenue leaks in online betting – Acting Minister of Finance

Acting Finance Minister Osei Kyei Mensa Bonsu has said that President Akufo-Addo’s government will formulate a comprehensive policy to seal revenue leaks in online betting.

The policy he says is to improve the mobilization of income from this source.

According to him, although the gaming industry has become a major source of revenue around the world and a major source of government revenue, Ghana is losing more than GH ¢ 300 million per year due to leaks in the sector.

“The influx of online betting and the automation of the once completely manual process has changed the character of the revenue streams in this industry,” he said.

For this to be successful, he said the Ministry of Finance and the Home Office would co-oversee the gaming industry.

The Parliament majority leader said this during the presentation of the 2021 budget and economic policy statement to Parliament on Friday.

There has been a spike in online gaming in Ghana and the African continent over the past five years, with the number of online gaming companies growing exponentially.

The operators who number more than 19 are licensed by the Ghana Gaming Commission. They offer services ranging from online sports betting to online casino games on their web platforms.