GCNet pays GH¢25m dividend to government

The Ghana Community Network Services Limited (GCNet), a Public-Private information and communication technology entity, has presented a dividend-cheque for GH¢10million to government.

The amount represents the last installment of GH¢25million paid as dividend on GCNet’s 2015 account.

Deputy Finance Minister, Mona Quartey, said: “We wish to congratulate GCNet for the consistency in paying dividend. I will like to take this opportunity to urge you to be strong, reliable and profitable to enhance the dividend that you pay to government.

We need to continue to work together to improve the systems that we have because it is a dynamic world and things are changing all the time.

Dr. Nortey Omaboe, Executive Chairman, GCNet Limited said: “The dividend presentation being made amount to GH¢10million and its for Ghana Revenue Authority’s (GRA) shareholding.

A further GH¢5million and GH¢2.5million have already been paid respectively to the Shippers’ Authority and GCB Bank. Today’s interim dividend payment brings the total dividend payment made to Government through the GRA shareholding in GCNet to GH¢89million.”

He added that: “Besides the direct dividend payment made, GCNet as a corporate entity, has over the years paid Income Tax, VAT, and Withholding Tax as part of its statutory obligation to Government. In 2015 for instance, GCNet made an Income Tax payment of GHC 24.584million, paid GH¢20.963million as VAT, and GHC 5.4 million as withholding tax.

In 2016, the payments made for the past half-year are GHC 9.7 million, GHC 10.6million and GHC 1.5 million respectively for income tax, VAT, and withholding tax