Friday, 17 April

Razak Opoku defends KGL's tax contribution, questions comparisons with mining firms

News
Razak Kojo Opoku, PhD

A former Public Relations Manager of the National Lottery Authority (NLA), Dr Razak Kojo Opoku, has criticised comparisons between the tax contributions of Newmont Ghana and KGL Group, describing such analysis as misleading.

According to Mr. Opoku, it is inappropriate to compare the tax performance of companies operating in entirely different sectors, noting that Newmont Ghana is a foreign-owned mining company with over two decades of operations, while KGL is a wholly Ghanaian-owned company in the lottery sector with a much shorter operational history.

He argued that Newmont Ghana, backed by its parent company Newmont Corporation, which has operated for over a century, cannot be fairly compared to KGL, which began operations in 2019.

He issued this caveat in a statement posted on his Facebook wall on Thursday.

Mr. Opoku maintained that a more appropriate comparison would be between companies within the same industry, rather than across sectors with differing structures, timelines, and revenue models.

He further highlighted KGL’s tax contribution, stating that no licensed lottery operator in Ghana has paid over GHas150 million in a single year to the Ghana Revenue Authority (GRA).

He added that in 2025 alone, KGL contributed over GHS326 million in revenue to the state through the GRA and the NLA, describing the performance as unprecedented within the lottery industry.

 

Mr. Opoku urged analysts and commentators for that matter leaders at Fourth Estate  to adopt more rigorous and context-based approaches when evaluating corporate tax contributions, particularly when assessing the performance of indigenous companies.

Source: Classfmonline.com/Cecil MENSAH