Abolishing betting tax will destroy the future of Ghanaian youth- Dr. Fokuo Kwarteng

Dr. Solomon Fokuo Kwarteng, Head of the Entrepreneurship and Finance Department at Kumasi Technical University (KSTU),

The Head of the Entrepreneurship and Finance Department at Kumasi Technical University (KSTU), Dr. Solomon Fokuo Kwarteng has expressed his disapproval of the government’s decision to abolish the betting tax in the 2025 budget adding that abolishing the Betting Tax Will Destroy the Future of Ghanaian Youth.

According to Dr. Fokuo-Kwarteng, the abolition of the betting tax in the 2025 budget   which was assente by the President John Mahama will encourage Ghanaians to engage to abandon their jobs and turn to betting as a means of making money.

Speaking on OTEC FM’s breakfast show dubbed ‘Nyansapo on Thursday April 03, 2025, Dr. Fokuo-Kwarteng argued that while betting may yield financial gains for some, the youth should be discouraged from engaging in it. However, he believes the government’s decision to remove betting taxes will only encourage young people to abandon their jobs and focus on gambling.

He stated, “If the President had asked for my opinion, I would have said, Your Excellency, because of one pattern and this game of chance becomes part and parcel of our culture, it kills our spirit for hard work. It encourages the seeking of wealth in the shortest way.”

“The cancellation of the betting tax says a lot to us…betting is a scam. We should not encourage the idea of abolishing the betting tax, he told  the programme’s hosted by My Isaac Osei  Akoto aka Knau.

Betting tax

The betting tax, introduced in August 2023, imposed a 10% levy on gambling winnings and aimed to discourage excessive gambling while boosting domestic revenue. However, it was abolished in March 2025 by Finance Minister Dr. Cassiel Ato Forson as part of broader efforts to eliminate “nuisance taxes,” fulfilling a campaign promise by President John Dramani Mahama. The move was widely celebrated by bettors and gaming operators across Ghana.

President John Dramani Mahama  on Wednesday, April 02, 2025 assented to a set of amended bills of Parliament, effectively abolishing the Electronic Transfer Levy (E-Levy), the betting tax, the Emissions Tax, among other related bills.

Despite public excitement over the tax removal, Dr. Fokuo-Kwarteng , a Senior Lecturer expressed concern about its potential social consequences. He warned that removing the tax could encourage young people to rely on gambling instead of hard work and skill development. “We must work and act out our living. Through work, we develop skills and take responsibility,” he emphasized. He added that such practices conflict with religious teachings and could erode societal values centered on effort and diligence.

To him, this tax shouldn’t have been eliminated, asking why one should put stakes on a soccer game, win, and not pay any tax, but he pays income tax on his gains from his hard work.

“I don’t agree and believe I will not change my mind about my position on this (betting tax) anytime”, he stated.

Source: Ghana/otecfmghana.com