Ghana's State-Owned Enterprises achieve GH¢19.8 billion net profit in 2025, reversing previous losses

This information comes from the 2025 State Ownership Report SOR released by the State Interests and Governance Authority SIGA. The report, which evaluated 162 out of 175 approved Specified Entities, indicates that the SOE sector ended a four-year period of consolidated net losses. Total SOE revenue increased by 28.12% to GH¢176.43 billion in 2025, up from GH¢137.64 billion in 2024, driven by growth in the agricultural, manufacturing, and infrastructure subsectors.

Profit Before Interest and Tax also rose to GH¢25.49 billion. Improved financial performance was partly attributed to stronger foreign exchange earnings and reduced financing costs. SIGA Director-General, Professor Michael Kpessa-Whyte, highlighted the report's importance as it covers the first year of President John Dramani Mahama’s second administration, providing insights into the entities' contribution to the government’s economic program.

Joint Venture Companies JVCs also saw increased net profits and total assets. However, the Other State Entities OSEs sub-sector recorded a net deficit of GH¢10.48 billion in 2025, with liabilities increasing and accumulated funds falling, largely due to the Bank of Ghana’s negative equity. Several entities, including Electricity Company of Ghana ECG, continued to report losses, and dividend payments to the go