Cape Coast, Nov 5, GNA - Revenue collection by the Oguaa Metropolitan Assembly increased considerably since it was privatized in January, Mr Anthony Egyir Aikins, the Metropolitan Chief Executive, has said.

He said about 70 per cent of revenue for the year has been collected as at the end of October and expressed the hope that it would exceed its revenue target by the end of the year. Mr Aikins said this when a joint team from the assembly and Revenue Network Limited (Revenet), a private revenue company contracted by the Assembly, met the press on Wednesday to brief it on its activities and achievements in the last 10 months. He said after trying lots of systems, the assembly contracted Revenet to enhance its revenue generation base with the use of electronic revenue collection system.

Mr Aikins told journalists that upon assessment of revenues collected in the metropolis, he realized that the financial base of the Assembly was weak hence the decision to privatize it. He said the Assembly would be paying GH¢1,000.00 each to assembly members as ex-gratia.

Internally generated funds would be used in the construction of a police station and commended members of the assembly for supporting Revenet in enhancing revenue collection in the metropolis. Mr Yemi Ogungbo of Revenet said their operation in Cape Coast started on January 04 and his company automated revenue generation in Cape Coast to connect all stakeholders with the use of the electronic banking system of revenue cycling.

Mr Yemi Ogungbo said revenue collected for the assembly at the end of 2009 was GH¢445,110 and that from January to September this year, when Revenet took over, GH¢489,558 had been collected adding that its major challenge was the adaptation of the system by the revenue payers.