Ghana's State-Owned Enterprises (SOEs) recorded a 28.3% surge in total revenue in 2024.

According to the 2024 Annual State Ownership Report released by the State Interests and Governance Authority (SIGA) on October 15, 2025, total revenue across the sector reached GH¢133.68 billion, up from GH¢104.19 billion in 2023.

The surge was largely driven by strong performances in the Energy sub-sector, which grew by 38.98%, and the Financial and Allied Services sub-sector, which expanded by an impressive 49.52%.

The report also highlighted notable improvements in operational efficiency, with Profit Before Interest and Tax (PBIT) rising to GH¢1.57 billion in 2024, up from GH¢376.93 million in 2023, a significant turnaround from 2022, when the sector posted a PBIT loss of GH¢9.62 billion.

SIGA Report: SOEs show revenue growth but face mounting liabilities

Despite these gains, the overall financial performance of the sector remained under pressure. The SOE sector ended the year with a widened net loss of GH¢9.67 billion, compared to GH¢7.14 billion in 2023.

SIGA attributed this decline to excessive finance costs, which totaled GH¢9.39 billion in 2024, effectively eroding operational profits.

Speaking at the presentation of the report in Accra on October 15, 2025, Director-General Professor Kpessa Whyte clarified that the 2024 report reflects the financial activities of SOEs and other state entities under the previous government.

He added that the findings are expected to guide future reforms and support efforts to enhance transparency, accountability, and efficiency within Ghana’s state-owned enterprises.



SP/MA

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