Accra, March. 17, GNA - The National Lottery Authority (NLA) has commended KGL Technology Limited, operators of the official short code of the authority’s *959# for a solid partnership and good working relationship.
The authority acknowledged the various roles KGL Technology Limited has played in resolving some financial issues recently, which otherwise would have plunged the authority into some level of crisis.
Key among these issues is the recent financial challenges that were encountered by the authority largely due to High Winning Ratios recorded over a long period of time.
A statement signed by the Head of the Public Relations Unit of the NLA and copied to the media said the Win Ratios were exceeding the sales/revenue generated which brought about some considerable level of liquidity challenges.
It said KGL Technology, a licensed partner company timely offered the authority a life-saving antidote to resolve the situation.
KGL Technology Limited is a leading digital online lotto marketing company, assisting the NLA to fully implement its digitalization programme.
The statement said the obligations are: "Payment of commission to Lotto Marketing Companies over the last six (6) years, Payment of fees to the Technical Service Providers, Statutory Payments to the Consolidated Fund and Payment of salaries, allowances and other benefits to the employees of the authority.
"Other obligations are: Cost of day-to-day administration and operations of the NLA, Payment for contracts executed by individual companies and other financial expenses of the authority over the last six (6) years."
It therefore urged the public to totally ignore it and also urged all stakeholders and employees of the authority to remain calm as the authority takes all the necessary steps to address the concerns of the lottery industry.
"The NLA is assuring the public and stakeholders that it is taking more pragmatic steps to address all current challenges and bounce back stronger as the leading lottery regulator and operator in Africa".