Bright Simons challenges GH¢19.8bn SOE profit reported by SIGA
Vice President of IMANI Africa, Bright Simons, has questioned the accuracy of the State Interests and Governance Authority’s (SIGA) reported GH¢19.8 billion combined net profit recorded by Ghana’s state-owned enterprises (SOEs) in 2025. SIGA’s 2025 State Ownership Report described the results as a major improvement in the financial performance of the state-owned enterprise sector. According […]
Vice President of IMANI Africa, Bright Simons, has cast doubt on the reported GH¢19.8 billion net profit of Ghana's state-owned enterprises (SOEs) for 2025, as disclosed by the State Interests and Governance Authority (SIGA). In his view, the impressive financial performance highlighted by SIGA may not accurately reflect the true operational health of these state-owned entities.
According to Simons, the reported increase in profits is largely attributed to currency-related gains rather than genuine business performance improvements. He argued that when currency effects are excluded from the calculations, the net profit of the SOEs actually declined by 17.1% between 2024 and 2025. This, Simons contends, paints a far more sobering picture of the sector's financial situation.
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- SIGA’s GH¢19.8bn SOE profit claim misleading – Bright Simons myjoyonline.com
