Only 3 SOEs paid dividends in 2024 – Finance Minister Ato Forson

Finance Minister Dr. Cassiel Ato Forson has revealed that only three State-Owned Enterprises (SOEs) paid dividends in 2024, highlighting ongoing financial struggles in the sector.

The State Housing Company, Ghana Reinsurance Company, and TDC Development Company collectively contributed GH¢28.7 million to the national coffers, a modest improvement from previous years. Despite government investments, most SOEs remain unprofitable, with major entities like ECG and COCOBOD posting losses.

Dr. Forson emphasized that SOEs pose a fiscal risk and called for urgent reforms, including better corporate governance, financial discipline, and strict enforcement of reporting requirements under the Public Financial Management Act.

The government is under pressure to ensure that these enterprises become financially sustainable and contribute meaningfully to national development.