GH¢275.48m Dividends From SOEs Received By Government In 2020

Ken Ofori-Atta, Finance Minister

The 2020 State Ownership report showed that government received GH¢275.48 million as dividends from State-Owned Enterprises (SOEs) in 2020.

These dividends represented an increase of 164.96 percent, about GH¢171.51 million, over that of 2019.

Compared to 2019, there was a shortfall of GH¢15.46 million cedis, but far higher than the dividend paid in 2019.

The mining sector paid GH¢224.77 million as dividends to the government.

This is compared to GH¢ 38.48 million cedis in 2019.

Major contributors to the dividend receipts from the mining sector were Newmont Ghana Gold, Kinross Chirano Mining and Goldfields Ghana Limited (Tarkwa).

GHACEM also increased its contribution from GH¢7.30 million in 2019 to ¢27.66 million in 2020.

Ghana Reinsurance Limited was the only State-Owned Enterprise that paid dividends to the government.

Further analysis indicates that State Owned Enterprises and Joint Venture Companies recorded 37.5% and 73.18% decline in dividend payments.

.www.ghanaweb.com