The Ghana Ports and Harbours Authority (GPHA) recorded a net profit of GH¢2.82 billion in 2025, representing a 17.18 per cent increase over the approximately GH¢2.41 billion recorded in 2024.

The Authority’s total revenue also increased from GH¢6.998 billion in 2024 to GH¢7.620 billion in 2025, according to the 2025 State Ownership Report by the State Interests and Governance Authority (SIGA).

The results reinforce GPHA’s position as one of Ghana’s consistently profitable State-Owned Enterprises and a major contributor to the performance of the country’s transport and logistics subsector.

This was contained in the 2025 State Ownership Report released the State Interest and Governance Authority (SIGA).

The report noted that operating revenue increased by 5.95 per cent, from GH¢5.252 billion in 2024 to GH¢5.564 billion in 2025.

The growth was principally supported by increased income from cargo services and facilities, reflecting the continuing importance of Ghana’s ports to international trade and the national logistics system.

GPHA’s interest in Meridian Port Services Limited also contributed significantly to the Authority’s performance.

Its share of profit from the company increased from GH¢1.276 billion in 2024 to GH¢1.531 billion in 2025.

This represented approximately 20.09 per cent of GPHA’s total revenue for the year.

Profitability and returns improve

The report placed GPHA’s net profit margin at 50.69 per cent in 2025, compared with 45.83 per cent in the preceding year.

 It also identified the Authority as the dominant contributor to the profitability of the transport and logistics subsector.

The subsector remained profitable throughout the five-year period from 2021 to 2025, with its aggregate net profit increasing by 9.16 per cent to GH¢3.211 billion in 2025.

GPHA itself recorded an average annual net profit of approximately GH¢1.410 billion over the five-year period, the second-highest average among State-Owned Enterprises that remained profitable throughout the period.

The Authority’s net profit increased from GH¢485.70 million in 2021 to GH¢655 million in 2022 and GH¢690.10 million in 2023.

 It rose substantially to GH¢2.401 billion in 2024 before reaching GH¢2.821 billion in 2025.

Returns generated from the Authority’s capital base also strengthened during the year. Return on assets increased from 16.47 per cent in 2024 to 19.07 per cent in 2025, while return on equity rose from 45.98 per cent to approximately 49.55 per cent.

GPHA’s total assets stood at GH¢19.544 billion at the end of 2025, while total equity increased by 16.01 per cent, from GH¢13.069 billion in 2024 to GH¢15.162 billion.

The report further indicated that the Authority’s debt-to-asset ratio declined during the year. Its equity multiplier also reduced from 1.48 times in 2024 to 1.29 times in 2025, reflecting greater reliance on equity and reduced financial leverage.