Bright Simons challenges SIGA's GH¢19.8 billion profit claim for state-owned enterprises

Simons, in an August 31 post on X, accused SIGA of presenting inconsistent figures, misleading conclusions, and "bizarre errors." He highlighted discrepancies in historical financial data across different SIGA reports for the same years, making comparisons difficult. Simons also argued that the reported 2025 profit improvement is largely due to currency revaluation effects, particularly a GH¢21 billion swing in the Electricity Company of Ghana's foreign-exchange position.

Excluding these effects, he stated that net profit fell by 17.1% and operating profit declined by 22.7% between 2024 and 2025. He further questioned the emphasis on profits when dividends from fully state-owned enterprises declined by 45.5% in 2025 to only US$1.4 million. Simons also challenged SIGA's 976% improvement claim, calling percentage comparisons from negative to positive figures misleading, and alleged an incorrect 2021 cost figure was used, overstating it by GH¢50.9 billion.