The National Food Buffer Stock Company (NAFCO) has recorded a historic turnaround, posting a GH¢91.7 million net profit in 2025 after erasing a GH¢19 million loss in 2024, the State Interests and Governance Authority (SIGA) has revealed.
“In 2025, NAFCO erased a loss of GH 19 million posted in 2024 and replaced it with a net profit of GH 91.7 million. This is a testament to the transformative power of disciplined governance, strategic leadership, and institutional resolve,” SIGA said in a statement.
According to NAFCO’s 2025 audited accounts submitted to SIGA, gross profit margin surged from 1.61% to 13.96%, while return on operating assets rose from negative 63.80% to a positive 26.29%.
The company also paid GH¢20.3 million in taxes, “the highest annual tax contribution in its 16-year history.”
SIGA said the gains were driven by “purposeful structural reforms: the establishment of a dedicated Procurement Department, a strengthened Internal Audit function, a fortified Food Safety Department, and the reconstitution of the Board and its sub-committees.”
“NAFCO’s achievement is a compelling demonstration of what Ghanaian public institutions can accomplish when governance principles are rigorously applied. It is a model we call upon all Specified Entities to emulate,” said Prof. Michael Kpessa-Whyte, Director-General of SIGA.
The Board has approved NAFCO’s first-ever Annual General Meeting, “a landmark moment since the Company’s founding in 2010.”
SIGA added that NAFCO remains “an indispensable pillar of Ghana’s food security architecture,” helping to stabilise food prices, reduce post-harvest losses, and support smallholder farmers under the Free Senior High School feeding and National Food Reserve Initiatives.
