• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

SIGA pegs government’s fiscal exposure to projects at GHS 21.5bn

3 years ago
in Economy, Editor's pick, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
76
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

SIGA pegs government’s fiscal exposure to projects at GHS 21.5bn

Government, according to the State Interests and Governance Authority (SIGA), stands to lose some GHS 21.5bn in investments made in 2020.

According to SIGA, government’s financial or fiscal exposure to investments made within 2020 include government subvention of GH¢1,476.83 Million, on-lent loans of GH¢14,738.40 Million; government guarantees of GH¢2,383 Million, contingent liabilities of GH¢138.99 Million (US$24.13 Million) from ongoing Public-Private Partnership (PPP) projects. Government also provided support and bail-outs to some Specified Entities.

”Government’s fiscal exposure (either explicitly or implicitly), as at the end of FY2020 amounted to GH¢21,531.10 Million,” stated SIGA in the 2020 State Ownership Report by the Ministry of Finance.

Financial or fiscal exposure refers to the amount of money an investor stands to lose in investments made in a project or a business.

Touching on the performance of SOEs, JVCs and other Specified Entities in relation to the adverse impact of the Covid pandemic, SIGA in the report asserts its projection for 2020 envisaged a turnaround of the performance of Specified Entities, which would have resulted in increases in payment of dividends to Government.

However, these projections could not be realized as a result of the impact of COVID-19.

RelatedPosts

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

Read: Banking Survey: Ecobank trails behind GCB in brand equity metric for 2021

“Government had to rescue some Entities at an estimated total sum of GH¢1,168.00 million, US$241.80 Million and EUR15.00 million. Additionally, Government in 2020 supported eight (8) subvented agencies that provide public services, the sum of GH¢1,426.74 Million, representing an increase of 414.62 percent over GH¢277.24 Million in FY2019, to enable them meet ongoing obligations, including staff costs, capital expenditure and goods and services,” it said.

According to SIGA, the total dividend receipts from Specified Entities as at end of 2020 amounted to GH¢275.48 Million compared to the projected amount of GH¢290.94 Million, representing a shortfall of GH¢15.46 Million (5.31 percent).

The 2020 dividends outturn represented an increase of 164.96 percent (GH¢171.51 Million) compared to the 2019 outturn (GH¢103.97 Million). The improved dividend receipts for 2020 were mainly on account of a marked increase in the contribution of the Minority Interests, particularly in the Mining Sector which increased its contribution from GH¢10.84 Million in 2019 to GH¢224.84 Million in 2020.

Checking underperformance of Specified Entities

SIGA, says as part of the way forward, it will continue to analyse extensively the root causes of the underperformance of some of these Entities, examine best international practices, benchmark performance against their local, regional, and international peers, and make appropriate recommendations in line with the Authority’s mandate.

The Authority says it will seek to undertake strategic interventions to address the worsening Net Losses, reduce the fiscal risk exposure to government, improve on the profitability position of the Entities and above all increase dividend payment to Government.

Source: norvanreports
Tags: COVID-19 pandemicghanaPPPSIGA pegs government’s fiscal exposure to projects at GHS 21.5bnState Interests and Governance Authority (SIGA)
No Result
View All Result

Highlights

US Open: Sinner Advances as Gauff and Swiatek Struggle

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

Chamber of Mines Calls for Special Purpose Vehicle to Fund Western Corridor Railway Development

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice

European Leagues Defend Plans to Stage Matches Abroad Amid EU Criticism

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

Trending

Features

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

August 29, 2025

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on The stage is set for the...

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

August 29, 2025

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

August 29, 2025

US Open: Sinner Advances as Gauff and Swiatek Struggle

August 29, 2025

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

August 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.