Ato Forson: ‘Almost all State Owned Enterprises in the red’

Finance Minister Dr. Cassiel Ato Forson has warned of severe financial and operational risks affecting state-owned enterprises (SOEs) and joint venture companies.

Speaking at the National Economic Dialogue on March 3, 2025, he stressed the urgent need for restructuring, noting that most SOEs, including ECG and ADB, are struggling financially.

He highlighted COCOBOD’s reported GHS2.2 billion profit in 2023 as artificial, explaining that it resulted from debt suspension, not actual financial recovery. The underlying debt remains a major concern.

The National Economic Dialogue, held in Accra, gathered policymakers and experts to discuss economic strategies. The government is expected to incorporate these discussions into the National Budget, implementing measures to stabilize SOEs and strengthen Ghana’s economy.