Betting tax derails gains in lottery sector – KGL Group Chairman Alex Dadey

In a recent interview, Alex Apau Dadey, Executive Chairman of KGL Group, expressed strong criticism of Ghana’s new betting tax, asserting that it undermines progress made in promoting the sector.

He highlighted his efforts and others to advance digital solutions in lotteries and betting, arguing that the tax could reverse these gains by pushing people toward illegal betting.

Although the government introduced the 10% betting tax in 2023 to discourage youth from betting and expand the tax base, Dadey believes this approach is counterproductive.

He suggests there are alternative methods to dissuade youth without imposing heavy taxes.

The opposition party, represented by John Dramani Mahama, has promised to repeal the tax if elected in 2024, reflecting significant public discontent.

The betting tax is part of the government's broader strategy to increase revenue as per IMF requirements, along with other new taxes introduced in March 2023, which also sparked public concerns.