Only GH4.4m out of GHC14bn worth of gov’t loans to SOEs have been recovered - Report
- A 2018 State Ownership Report showed that state to State-Owned Enterprises (SOEs) amounted to GHc14.6 billion
- Only GHC4.4 million out of the amount has so far been recovered by the state
- GPHA topped the list of defaulters with a GHC1.77 billion guarantee from the government
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Government loans to State-Owned Enterprises (SOEs) amounted to GHc14.6 billion as of 2018.
Out of the amount, only GHC4.4 million has been recovered by the state, a new 2018 State Ownership Report has revealed.
YEN.com.gh understands that recoveries on significant portions of signed on-lent agreements are yet to kick in.
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Information available shows that the total outstanding stock of government of Ghana guarantees amounted to GHC2.3 billion.
Per a report by classfmonline.com, the Electricity Company of Ghana had an outstanding debt of GHS490.5 million.
The Ghana Ports and Harbours Authority (GPHA) tops the list of defaulters with a GHC1.77 billion guarantee from the government.
This is due to the design, civil and dredging works in the ports of Takoradi, Ghana project Phase I and Phase II.
GRIDCo followed with a GHC274 million guarantee from the government of Ghana, as a result of the financing of the Tumu-Han-Wa Transmission Project as well as the Substations Reliability Enhancement Project (SREP).
YEN.com.gh earlier reported that a 2018 report has revealed the earnings and losses recorded by 77 State-Owned Enterprises (SOEs) and Joint Ventures (JVs) in Ghana.
This was made up of 36 SOEs, 16 Other State Entities (OSEs) and 25 JVCs.
It has been gathered that for the year in question, SOEs recorded a GHC3.12bn loss while joint ventures posted GHC1.35bn profit.
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Source: YEN.com.gh
