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May 12, 2026
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61 out of 185 SOEs met April 30 deadline for submitting 2025 financial statements
Money
Policy
Key Points
- Only 61 out of 185 state-owned enterprises (SOEs), joint ventures, and other specified entities submitted their 2025 financial statements by the April 30 deadline.
- This represents a low compliance rate of approximately 32% as of May 1, 2026, according to SIGA's dashboard.
- Key entities like the Bank of Ghana, ECG, Ghana Gas, and GNPC were among those that complied.
- Over 100 entities, including Minerals Development Fund and Lands Commission, neither submitted their statements nor provided reasons for delay.
- The widespread non-compliance raises serious questions about financial reporting discipline, institutional compliance, and accountability within Ghana's public sector.
Why This Matters
The widespread failure of state-owned entities to submit financial statements indicates significant issues with accountability and transparency in Ghana's public sector. This lack of financial oversight can lead to mismanagement of public funds, hinder effective governance, and potentially impact Ghana's economic stability and attractiveness for investment by eroding trust and increasing perceived risk.
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GoldBod denies GH¢1bn BoG overdraft claim, demands retraction and apology from Boako
- The Ghana Gold Board (GoldBod) has vehemently denied claims by MP Dr. Gideon Boako that it owes the Bank of Ghana (BoG) a GH¢1 billion overdraft.
- Dr. Boako, a Deputy Ranking Member on Parliament’s Finance Committee, questioned GoldBod's reported GH¢907 million profit, stating an outstanding overdraft would reflect a loss.
- GoldBod labeled Dr. Boako’s claim as “totally false,” a “deliberate and malicious smear campaign,” and demanded a retraction and apology.
- This dispute is set against a broader political and economic debate concerning GoldBod’s financial performance and the accounting treatment of GH¢22 billion losses from the Domestic Gold Purchase Programme (DGPP).
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GoldBod losses remain key on Minority agenda as Parliament reconvenes – Afenyo-Markin
- The NPP Minority Leader, Alexander Afenyo-Markin, reaffirmed the caucus's commitment to investigate a reported US$1.7 billion loss linked to the Bank of Ghana’s Domestic Gold Purchase Programme and the Ghana Gold Board (GoldBod).
- This commitment was reiterated after Afenyo-Markin met with NPP flagbearer Dr Mahamudu Bawumia in Accra.
- Dr Bawumia commended the Minority Caucus for its accountability efforts and encouraged their continued work.
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Why celebrate $2.62bn FDI while losing $1.7bn under the Domestic Gold Programme? IERPP asks
- The Institute of Economic Research and Public Policy (IERPP) welcomes Ghana's US$2.62 billion Foreign Direct Investment (FDI) as a sign of investor confidence.
- However, IERPP tempers this optimism with concern over an estimated GH¢22 billion (US$1.7 billion) loss from the Domestic Gold Purchase Program (DGPP).
- The DGPP loss is significant, equating to about 65 cents for every US$1 of FDI attracted, highlighting a major resource management issue.
- IERPP emphasizes that while FDI is crucial, it cannot substitute for prudent management and protection of existing public resources.
- The Institute calls for greater transparency, a clear breakdown of DGPP losses, and intense scrutiny from accountability institutions, Parliament, and civil society.