The State Interests and Governance Authority (SIGA) has released its 2025 State Ownership Report, marking a decade of tracking the performance of Ghana’s Specified Entities.
The report, launched on Sunday, August 30, 2026, covers 162 out of 175 approved entities, comprising 53 State-Owned Enterprises (SOEs), 36 Joint Venture Companies (JVCs) and 73 Other State Entities (OSEs).
According to SIGA, the SOE sector delivered a major turnaround, with total revenue rising 28.12% to GH¢176.43 billion and breaking a four-year cycle of losses to post a net profit of GH¢19.8 billion in 2025, compared to a GH¢2.25 billion loss in 2024.
The Director-General of SIGA, Prof. Michael Kpessa-Whyte, said the edition is significant as it captures the first year of President John Dramani Mahama’s second administration.“
This edition is significant because it documents the performance of Specified Entities for the first year of President Dramani Mahama’s second administration,” he said.
“It gives a full picture of how these Specified Entities are contributing to the broader economic reset agenda.”
The report shows JVCs also extended gains, with net profit up 36.55% to GH¢3.14 billion, while OSEs faced pressure as their deficit widened to GH¢10.48 billion, driven largely by the Bank of Ghana’s GH¢93 billion negative equity.
SIGA said the performance was supported by a stronger macroeconomy, with GDP growth hitting 6%, the fastest since 2019, and easing interest rates.
Despite the gains, SIGA warned that risks remain, with some SOEs recording persistent losses and negative equity.“The gains of FY2025 must not become a temporary rebound,” the report said.
“They must become the foundation for a more efficient, competitive, inclusive and sustainable State-owned sector that creates value for the Ghanaian taxpayer and contributes meaningfully to national development.”
