JVCs Post GHS1.51bn Profit, Assets Rise 39.9% in 2024 – SIGA Report
Joint Venture Companies (JVCs) under government oversight recorded a strong turnaround in financial performance in 2024, according to the latest State Ownership Report (SOR) published by the State Interests and Governance Authority (SIGA).
The sector, excluding minority interests, swung from a net loss of GHS1.33 billion in 2023 to a net profit of GHS1.51 billion in 2024, representing a 213.77% improvement. Total assets of JVCs also expanded significantly, rising by 39.86% to GHS71.89 billion over the period.
Minority-interest JVCs further outperformed expectations, with net profit surging to GHS24.88 billion in 2024, compared with GHS1.64 billion in 2023. These entities emerged as the dominant contributors to government dividend receipts, paying GHS1.03 billion and accounting for 91% of total dividends in the year under review.
The 2024 SOR, which provides a comprehensive assessment of the financial and operational performance of Ghana’s Specified Entities (SEs), covered 152 out of 175 approved entities, comprising 54 State-Owned Enterprises (SOEs), 30 JVCs, and 68 Other State Entities (OSEs). This represents an expansion of oversight from 147 entities reviewed in 2023.
Now in its ninth edition and the fourth to be released since SIGA’s establishment in 2019, the State Ownership Report has become a critical resource for policymakers, stakeholders, and the public, offering data-driven insights to inform dialogue on the governance and sustainability of SEs.
