Melcom pays nine million cedis as taxes

Obuasi, April 4, GNA - Melcom Group of Companies, one of the leading retail shopping centres in the country, last year contributed approximately nine million Ghana cedis to government coffers through payment of import duties, VAT and company tax.

Mr Mahesh A. Melwani, the Joint Group Managing Director of the company said this at the official opening of the Obuasi branch on Friday.

He said "in fulfilment of its legal responsibility, Melcom Group has been continually contributing millions of cedis to the government chest by way of import duties, VAT and company taxes every year".

He said Melcom had over the years built a reputation in the retail business due to its competitive pricing and variety of goods to the public.

"This has been recognized by the Chartered Institute of Marketing, Ghana, awarding us Best Retail Outlet of the year for an unprecedented five consecutive times".

Mr Melwani gave the assurance that Melcom would maintain its nationwide pricing policy so that prices of goods in all its branches would remain the same.

Mr Joe Boampong, the outgoing Obuasi Municipal Chief Executive, said the opening of the Obuasi branch became possible due to the positive collaboration between the Assembly and Melcom to promote business in the municipality.

He said the building belonged to the Assembly and Melcom had to refurbish it at a cost of 139,584.76 Ghana cedis under the Assembly's Built, Operate and Transfer (BOT) policy.

The outgoing MCE said Melcom would use the building for 10 years after which the company would return it to the Assembly. "Melcom can only use this building for 10 years even though nothing prevents us from renewing this agreement".

Mr Boampong used the occasion to remind Ghanaians about the impending general elections and the need to help maintain peace and order in their communities.

Mr Rama Samy, the Obuasi Branch Manager, said Melcom's decision to open a branch in the municipality was as a result of the "new wind blowing in this country towards the achievement of the government's desire to usher the country into the Golden Age of Business".

He said the company had employed 50 people at the Obuasi branch and appealed to the Assembly to allocate the third floor of the building to the company to enable it to bring more goods and increase the direct and indirect employment in the municipality.

Nana Asirifi Asare II, Presiding Member, who chaired the function, expressed the hope that Melcom would introduce new buying and selling practices that would help promote vibrant business in the municipality.