West Africa

Ghana loses over $52million to online betting annually

Ghana’s caretaker Finance Minister, Osei Kyei-Mensah-Bonsu has disclosed that the country loses about $52,288,650 in revenue due to leakages in online betting.

Kyei-Mensah-Bonsu said this when he delivered the 2021 budget statement of the Ghanaian government.

He admitted that gaming has become a major source of income for many individuals across the globe. He added that gaming is also a significant source of revenue for the government.

“Gaming has become a major income earner all across the globe and a significant source of government revenue,” he said.

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 GH¢300 million ($52,288,650) annually in revenue due to leakages in the sector.”

The caretaker Finance Minister said, to improve the revenue mobilisation from online gaming, the government intends to create a new policy this year.

He assured Ghanaians that the Ministry of Finance and the Ministry for the Interior “will co-supervise the gaming industry and will soon consult with stakeholders to formulate a comprehensive policy to improve revenue mobilisation from this source.”

 

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