JoyFM pays 11bn in taxes

Multimedia Broadcasting, operators of JoyFM and five other radio stations paid in excess of 11 billion cedis to government last year. Acting Board Chairman Roland Akosa says the payment was for taxes and other obligations to government treasury.

The company also spent over 14 billion cedis in staff remuneration and training for the same period.

Information available on the company’s website reports the Board Chairman as saying that a new era of values-driven enterprise has dawned on the Ghanaian corporate community and it will take only businesses ready to play by the rules to succeed.

The website says Mr. Akosa was speaking to journalists at the company’s annual general meeting, noting that the company is ready to partner the National Communications Authority to fashion out benchmarks to ensure that the broadcasting industry play its role as a major stakeholder in the development of the nation.

He said the company would continue to play its leading role in the independent media industry and join other partners to raise standards in corporate responsibilities.

“We have been very religious in ensuring that our statutory obligations are met and we don’t try to cut corners…Multimedia is an excellent example of such media organisations the world over, which not only inform and entertain people, but also take up advocacy issues that affect the lives of the people.”

Mr. Akosa said rather than being satisfied with its achievements (winning several local and international awards), the company believes there is the need to push the frontiers of the media industry in Ghana for greater opportunities and benefits for all.

MBC, according to the acting board chairman, has set its sights on emulating the examples of international giants including CNN, BBC, Sky and Fox media group to develop into a multi million dollar franchise, rather than stay under the tag of Small and Medium Enterprise that the country seemed so obsessed with.

“Ours is to try and employ young men and women who have the potential, train them and develop them and make them the best they can be and in the process, develop this company into a multi million dollar franchise, as you see of the BBC, CNN or Sky. We need to have similar examples replicated in Africa and Multimedia is on course to doing that.”

According to the acting chairman, Multimedia Broadcasting Company continued to lead in its social responsibility initiatives in each one of the communities it operates; through Blood Donation Drives, Easter Soup Kitchen and Drive Safety Awareness programmes. The company donated over ¢2 billion worth of airtime to support such public service activities.

Multimedia Broadcasting Company commenced operations 12 years ago when it launched its leading brand, Joy FM in Accra with a 20-member staff.

Now, the company has a staff strength of about 250 spread out in six FM stations. They include Luv 99.5FM, Adom 106.3FM, Nhyira 104.5FM, Hitz 103.7FM, and Asempa 94.7FM.