GCNet pays GHȻ 17 million dividend to government

The Ghana Community Network Services (GCNet) Limited has presented a dividend of GHȻ17 million to government, bringing the company’s dividend payment to government for the 2016 fiscal year to GHȻ27 million.

The company last year paid GHȻ10 million to government as part of government’s ownership in the company.

Government holds twenty per cent shares in GCNet, an Information and Communication Technology Public and Private Partnership company with the mandate to provide e-solutions to government to enhance revenue mobilisation.

Speaking at the presentation in Accra on Friday, the Executive Chairman of GCNet, Dr Nortey K. Omaboe said the management and board of the company had ensured that all the operations of the company brought revenue to government.

“GCNet has over the years pursued aggressive dividend payment and also meet all our tax and statutory obligations,” he said.

He disclosed that  apart from the dividend paid to government, the company last year paid corporate taxes to the tune of GHȻ35 million.

Dr Omaboe said the GCNet was in discussions with the Ghana Revenue Authority to streamline the services of the company and address the duplications of functions between GCNet and West Blue Consulting Limited.

The Executive Chairman was hopeful that by the end of the year the overlapping functions and GCNet would have been addressed.

Dr Omaboe said the company would continue to deploy technology to improve on its operations and revenue mobilisation for government.

The Minister of Finance, Ken Ofori-Atta receiving the dividend thanked the management of GCNet for the payment.

He said the role of Customs and Ports and Harbours in the revenue mobilisation of government could not be overemphasised.

Mr said the dividend had come at an opportune time when government was working feverishly the budget deficit from 8.5 per cent to about 6 per cent.

The minister entreated GCNet to address the gap and overlapping functions between the company and West Blue Consulting Limited.

Some management staffs who accompanied Dr Omaboe were the General Manager, Alwin Hoegoerle and Deputy Managing Director, Mr. Emmanuel Darko.

By Kingsley Asare


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