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Ghana state-owned enterprises return to GH¢19.8bn profit in 2025
Ghana’s state-owned enterprises (SOEs) returned to profitability in 2025, recording a consolidated net profit after tax of GH¢19.80 billion. This marks a significant recovery from the GH¢2.25 billion net loss reported in 2024. According to the State Interests and Governance Authority (SIGA) 2025 State Ownership Report, total SOE revenue rose by 28.12% to GH¢176.43 billion. Key drivers of this turnaround included growth in the agriculture, manufacturing, and infrastructure sub-sectors, alongside net foreign-exchange earnings of GH¢11.72 billion resulting from the appreciation of the cedi.
Notable individual successes include the Ghana Cocoa Board (COCOBOD), which recorded a net profit of GH¢5.11 billion, and the Tema Oil Refinery (TOR), which achieved its first profit in nearly a decade with a net gain of GH¢1.09 billion. However, the sector saw mixed results; Ghana Digital Centres Limited (GDCL) reported a net loss of GH¢6.06 million, nearly tripling its previous year's loss.
On the regulatory front, Deputy Finance Minister Thomas Nyarko Ampem reported a 62.9% reduction in public sector financial irregularities, which fell to GH¢7.69 billion from GH¢20.72 billion in 2024. While irregularities declined in most sectors, including public universities and statutory institutions, they rose significantly in Ministries, Departments, and Agencies (156.3%) and Metropolitan, Municipal, and District Assemblies (125.6%).
Entities
Electricity Company of Ghana · Ghana · Ghana Cocoa Board · Ghana Digital Centres Limited · State Interests and Governance Authority · Tema Oil Refinery · Thomas Nyarko Ampem · Volta River Authority
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] SOE revenue increased by 28.12% to GH¢176.43 billion in 2025. otecfmghana.com · www.dailyagricnews.com · norvanreports.com · onuaonline.com · thehighstreetjournal.com · +3 more
- [● 11 SOURCES] The sector moved from a GH¢2.25 billion net loss in 2024 to a profit in 2025. otecfmghana.com · www.dailyagricnews.com · norvanreports.com · onuaonline.com · thehighstreetjournal.com · +3 more
- [● 11 SOURCES] The appreciation of the cedi resulted in net foreign-exchange earnings of GH¢11.72 billion for SOEs in 2025. otecfmghana.com · www.dailyagricnews.com · norvanreports.com · onuaonline.com · thehighstreetjournal.com · +3 more
- [● 11 SOURCES] Agriculture revenue increased by 203.71% in the SOE sector. otecfmghana.com · www.dailyagricnews.com · norvanreports.com · onuaonline.com · thehighstreetjournal.com · +3 more
- [● 11 SOURCES] Total SOE assets declined by 5.86% to GH¢407.84 billion. otecfmghana.com · www.dailyagricnews.com · norvanreports.com · onuaonline.com · thehighstreetjournal.com · +3 more
- [● 12 SOURCES] Ghana’s state-owned enterprises (SOEs) recorded a consolidated net profit after tax of GH¢19.80 billion in 2025. otecfmghana.com · www.dailyagricnews.com · norvanreports.com · onuaonline.com · thehighstreetjournal.com · +4 more
- [● 5 SOURCES] Public sector financial irregularities in Ghana fell by 62.9% to GH¢7.69 billion in 2025. norvanreports.com · onuaonline.com · thehighstreetjournal.com · www.adomonline.com · ghanaguardian.com
- [● 2 SOURCES] Financial irregularities in Metropolitan, Municipal and District Assemblies (MMDAs) rose by 125.6% in 2025. thehighstreetjournal.com · onuaonline.com
- [○ 1 SOURCE] Financial irregularities in the District Assemblies Common Fund declined by 39.6% in 2025. onuaonline.com