Telecom Sector Contributes Over GH₵9.8 Billion to Ghana’s Economy in 2023

The Ghana Chamber of Telecommunications has announced that telecom companies in the country contributed more than GH₵9.83 billion in taxes and other payments in 2023.

This marks a significant 30% increase from the GH₵6 billion paid in 2022.

The contribution from the telecom sector accounts for approximately 7.38% of Ghana’s total revenue for 2023, underscoring the industry’s crucial role in the national economy.

Dr. Kenneth Ashigbey, CEO of the Ghana Chamber of Telecommunications, made the announcement during the launch of the Transparency Initiative Report. He highlighted the sector’s commitment to supporting economic growth and its ongoing contributions to government revenue.

“Telecom companies are making a substantial contribution to Ghana’s economy. The taxes paid to the government represent a progressive tax system,” Dr. Ashigbey said. “When you consider the total taxes we bear, along with other remittances to government agencies, the telecom sector contributed GH₵9.8 billion in 2023. This makes up about 7.4% of total government revenue.”

In addition to its financial contributions, the telecom sector also provided 2,464 direct jobs in 2023, a slight decrease from the 2,600 jobs created in 2022. Despite this, the sector remains a key driver of employment in the country.

The data is part of the Transparency Initiative Report, a joint publication by the Ghana Chamber of Telecommunications and the Electronic Money Issuers Chamber of Ghana, which aims to highlight the significant economic impact of the telecom industry.