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Ghana NAFCO financial recovery and debt repayment

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2026-09-27 11:37 UTC → 2026-09-30 01:43 UTC · added removed

Ghana is settling a long-standing debt to the Economic Community of West African States (ECOWAS) by releasing 50,000 bags of 50-kilogramme rice. The grain was originally borrowed in 2018 to support the national School Feeding Programme during a period of depleted food reserves. Food and Agriculture Minister Eric Opoku attributed the repayment to improved management and stronger procurement of food commodities. The National Food Buffer Stock Company (NAFCO) reported a significant financial turnaround, recording a net profit before tax of GH¢91.7 million in 2025, reversing a GH¢19.4 million loss from 2024. Following This marks the highest profit recorded by the company in its 16-year history. Additionally, the company’s gross profit margin rose from 1.61 per cent to 13.96 per cent during this financial recovery, period. Despite these gains, NAFCO CEO George Abradu-Otoo highlighted noted that the company’s liquidity buffer remains marginal. While the acid-test ratio improved from 1.07 in 2024 to 1.18 in 2025, the company is targeting a ratio above 1.5 to better manage short-term obligations. Mr. Abradu-Otoo has called on the government, as the majority shareholder, to address working capital management to ensure long-term sustainability. To support this recovery, NAFCO has implemented internal reforms designed to increase accountability. These reforms include accountability, including the establishment of a dedicated audit department and new controls regarding auditing, procurement, procurement and food safety safety. These measures aim to ensure better management of that expenditures translate into tangible value and that taxpayer resources and operational needs. are managed effectively.

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  1. 2026-09-30 01:43 UTC Ghana NAFCO financial recovery and debt repayment
  2. 2026-09-27 11:37 UTC Ghana NAFCO financial recovery and debt repayment

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