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Business News of Friday, 24 July 2020


Telcos, ECG to rollout fibre across the country on the back of electricity distribution

Ken Ofori-Atta, Finance Minister Ken Ofori-Atta, Finance Minister

Finance Minister Ken Ofori-Atta has noted that the future is about digitalization.

He told parliament on Thursday July 23 that data is now becoming as essential as water and electricity, especially for our youth and businesses.

The COVID-19 pandemic has reaffirmed this, especially as more people work remotely and also access education and health services.

Presenting the mid year budget review statement to parliament , he said : “This caring Government has worked diligently to digitalise the economy over the last three and half years.

“We need to further speed up the digitalisation effort where every citizen nationwide has access to the internet and other digital services.

“As such going forward, government will work with the Telcos and ECG to rollout fibre across the country on the back of the electricity distribution network so every citizen nationwide will have access to high speed broadband.

“In the short term, we will reduce the CST from 9% to 5% to reduce the cost of communication services to the consumer as more and more people work remotely and utilize online services.

“We will count on the Telcos to match this reduction in the CST by reducing their tariffs. This is important for our youth, entrepreneurs and the burgeoning FINTEC industry.”