The General Manager of Operations at the State Interests and Governance Authority (SIGA), Millicent Atuguba, has stated that the Bui Power Authority (BPA) should no longer be considered a burden to the country; instead, it should position itself to generate dividends for the state.

According to her, the government expects the authority to become efficient and profitable.

This statement follows the BPA’s report of a total revenue of $139.7 million in 2024 from energy dispatch, slightly above its target of $139.5 million. However, this represents an 11.1% decline from the previous year, reflecting reduced generation due to lower inflows into its reservoir.

SIGA Report: SOEs show revenue growth but face mounting liabilities

Speaking at BPA’s 2024 annual general meeting, Atuguba said, “Commercial entities like BPA must no longer be perceived as a burden but rather a vital economic asset that drives Ghana’s socio-economic development, especially in the era of a reset agenda. For this reason, our expectations of BPA are straightforward: to be efficient, profitable, and to pay dividends to the Government of Ghana.

“By the close of the 2025 financial year, we look forward to BPA demonstrating its commitment by paying a dividend for the first time. This will mark the beginning of a reset where SOEs take their rightful place and significantly contribute to non-tax revenue as well as national economic growth,” she added, as quoted by citinewsroom.com.

The authority’s net profit of $64.5 million is almost double its target of $33.6 million.

The Bui Power Authority Act, 2007 (Act 740), tasked BPA with the development of a hydroelectric power project on the Black Volta River at Bui and any other potential hydroelectric power sites on the Black Volta River, as well as related matters.

Its mandate was subsequently amended by the Bui Power Authority Amendment Act, 2020 (Act 1046), to include the development of renewable energy and other clean energy alternatives in the country and to provide for related matters.

SSD/MA

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