Jun 17, 2026
The State Interests and Governance Authority (SIGA) commends the National Food Buffer Stock Company (NAFCO) for one of the most remarkable financial recoveries ever recorded by a State-Owned Enterprise in Ghana. In 2025, NAFCO erased a loss of GH 19 million posted in 2024 and replaced it with a net profit of GH 91.7 million. This is a testament to the transformative power of disciplined governance, strategic leadership, and institutional resolve.
A FINANCIAL TRANSFORMATION BY THE NUMBERS
According to NAFCO’s 2025 Audited Accounts submitted to SIGA, the Company’s gross profit margin surged from 1.61% in 2024 to 13.96% in 2025. This reflects decisive cost discipline and robust revenue growth. Return on Operating Assets rose dramatically from negative 63.80% to a positive 26.29%, signalling a profound improvement in how the company’s assets are deployed and managed. Crowning these achievements, NAFCO paid GH 20.3 million in taxes to the State in 2025, the highest annual tax contribution in its 16-year history.
GOVERNANCE AT THE HEART OF SUCCESS
These gains were no accident. SIGA recognises that NAFCO’s turnaround was forged through a series of purposeful structural reforms: the establishment of a dedicated Procurement Department, a strengthened Internal Audit function, a fortified Food Safety Department, and the reconstitution of the Board and its sub-committees. The harmonious working relationship between the Board, Management and Staff proved equally decisive. In recognition of this milestone, the Board has approved the convening of NAFCO’s first-ever Annual General Meeting, which will be a landmark moment since the Company’s founding in 2010.
SERVING THE NATION BEYOND PROFIT
Profitability tells only part of the story. NAFCO remains an indispensable pillar of Ghana’s food security architecture. It is helping to stabilise food prices, reduce post-harvest losses, support smallholder farmers, which underpins critical government programmes including the Free Senior High School feeding and the National Food Reserve Initiatives. Its extensive storage network and food reserve operations continue to protect millions of Ghanaians from the volatility of food supply shocks.
“NAFCO’s achievement is a compelling demonstration of what Ghanaian public institutions can accomplish when governance principles are rigorously applied. It is a model we call upon all Specified Entities to emulate.”
— Prof. Michael Kpessa-Whyte, Director-General, SIGA
SIGA reaffirms its commitment to working closely with all Specified Entities to deepen corporate governance, enforce accountability, and ensure that every cedis of state investment generates maximum value for the people of Ghana. The Authority will continue to provide intensified regulatory oversight to sustain and build upon NAFCO’s hard-won gains.
Issued by:
Corporate Affairs Unit
State Interests and Governance Authority (SIGA)
Accra, Ghana
info@siga.gov.gh
Jun 17, 2026
The State Interests and Governance Authority (SIGA) commends the National Food Buffer Stock Company (NAFCO) for one of the most remarkable financial recoveries ever recorded by a State-Owned Enterprise in Ghana. In 2025, NAFCO erased a loss of GH 19 million posted in 2024 and replaced it with a net profit of GH 91.7 million. This is a testament to the transformative power of disciplined governance, strategic leadership, and institutional resolve.
A FINANCIAL TRANSFORMATION BY THE NUMBERS
According to NAFCO’s 2025 Audited Accounts submitted to SIGA, the Company’s gross profit margin surged from 1.61% in 2024 to 13.96% in 2025. This reflects decisive cost discipline and robust revenue growth. Return on Operating Assets rose dramatically from negative 63.80% to a positive 26.29%, signalling a profound improvement in how the company’s assets are deployed and managed. Crowning these achievements, NAFCO paid GH 20.3 million in taxes to the State in 2025, the highest annual tax contribution in its 16-year history.
GOVERNANCE AT THE HEART OF SUCCESS
These gains were no accident. SIGA recognises that NAFCO’s turnaround was forged through a series of purposeful structural reforms: the establishment of a dedicated Procurement Department, a strengthened Internal Audit function, a fortified Food Safety Department, and the reconstitution of the Board and its sub-committees. The harmonious working relationship between the Board, Management and Staff proved equally decisive. In recognition of this milestone, the Board has approved the convening of NAFCO’s first-ever Annual General Meeting, which will be a landmark moment since the Company’s founding in 2010.
SERVING THE NATION BEYOND PROFIT
Profitability tells only part of the story. NAFCO remains an indispensable pillar of Ghana’s food security architecture. It is helping to stabilise food prices, reduce post-harvest losses, support smallholder farmers, which underpins critical government programmes including the Free Senior High School feeding and the National Food Reserve Initiatives. Its extensive storage network and food reserve operations continue to protect millions of Ghanaians from the volatility of food supply shocks.
“NAFCO’s achievement is a compelling demonstration of what Ghanaian public institutions can accomplish when governance principles are rigorously applied. It is a model we call upon all Specified Entities to emulate.”
— Prof. Michael Kpessa-Whyte, Director-General, SIGA
SIGA reaffirms its commitment to working closely with all Specified Entities to deepen corporate governance, enforce accountability, and ensure that every cedis of state investment generates maximum value for the people of Ghana. The Authority will continue to provide intensified regulatory oversight to sustain and build upon NAFCO’s hard-won gains.
Issued by:
Corporate Affairs Unit
State Interests and Governance Authority (SIGA)
Accra, Ghana
info@siga.gov.gh
Jun 17, 2026
The State Interests and Governance Authority (SIGA) commends the National Food Buffer Stock Company (NAFCO) for one of the most remarkable financial recoveries ever recorded by a State-Owned Enterprise in Ghana. In 2025, NAFCO erased a loss of GH 19 million posted in 2024 and replaced it with a net profit of GH 91.7 million. This is a testament to the transformative power of disciplined governance, strategic leadership, and institutional resolve.
Ghana travel guide
A FINANCIAL TRANSFORMATION BY THE NUMBERS
According to NAFCO’s 2025 Audited Accounts submitted to SIGA, the Company’s gross profit margin surged from 1.61% in 2024 to 13.96% in 2025. This reflects decisive cost discipline and robust revenue growth. Return on Operating Assets rose dramatically from negative 63.80% to a positive 26.29%, signalling a profound improvement in how the company’s assets are deployed and managed. Crowning these achievements, NAFCO paid GH 20.3 million in taxes to the State in 2025, the highest annual tax contribution in its 16-year history.
GOVERNANCE AT THE HEART OF SUCCESS
These gains were no accident. SIGA recognises that NAFCO’s turnaround was forged through a series of purposeful structural reforms: the establishment of a dedicated Procurement Department, a strengthened Internal Audit function, a fortified Food Safety Department, and the reconstitution of the Board and its sub-committees. The harmonious working relationship between the Board, Management and Staff proved equally decisive. In recognition of this milestone, the Board has approved the convening of NAFCO’s first-ever Annual General Meeting, which will be a landmark moment since the Company’s founding in 2010.
SERVING THE NATION BEYOND PROFIT
Profitability tells only part of the story. NAFCO remains an indispensable pillar of Ghana’s food security architecture. It is helping to stabilise food prices, reduce post-harvest losses, support smallholder farmers, which underpins critical government programmes including the Free Senior High School feeding and the National Food Reserve Initiatives. Its extensive storage network and food reserve operations continue to protect millions of Ghanaians from the volatility of food supply shocks.
“NAFCO’s achievement is a compelling demonstration of what Ghanaian public institutions can accomplish when governance principles are rigorously applied. It is a model we call upon all Specified Entities to emulate.”
— Prof. Michael Kpessa-Whyte, Director-General, SIGA
SIGA reaffirms its commitment to working closely with all Specified Entities to deepen corporate governance, enforce accountability, and ensure that every cedis of state investment generates maximum value for the people of Ghana. The Authority will continue to provide intensified regulatory oversight to sustain and build upon NAFCO’s hard-won gains.
Issued by:
Corporate Affairs Unit
State Interests and Governance Authority (SIGA)
Accra, Ghana
info@siga.gov.gh
Jun 16, 2026
WHAT: African farmers, food system leaders, young agripreneurs, government officials, World Food Prize Laureates, agricultural researchers and business innovators will convene for a high-level event to discuss how to navigate the defining challenge of feeding a continent whose population will represent more than one in four people on the planet by 2050.
This year’s DialogueNEXT, themed “Born to Feed the Future,” is hosted by the World Food Prize Foundation in Nairobi, Kenya — the third and final stop in its global journey tracing the legacy of Dr. Norman E. Borlaug — following Mexico (2024) and India (2025).
The event is open to journalists, who will have direct access to senior figures across African agriculture, policy, science, innovation and business — all in one room, on one day. African ministers will speak at a press conference during the event.
The event will also feature the presentation of three major awards:
The Norman Borlaug Medallion
The 2026 Borlaug Field Award
The 2026 Inspiring the Next Generation Award
WHEN: Tuesday, June 30, 2026
(The press conference will be held 10:15 – 10:45 local time at the venue.)
Journalists also have the opportunity to join field visits on Wednesday, July 1 at the International Livestock Research Institute and International Centre of Insect Physiology and Ecology, among other organizations.
These visits will showcase African agricultural innovations in action firsthand. Contact Harvey Presence (harvey@marchmontcomms.com) to register or inquire (spaces are limited).
WHERE: Safari Park Hotel & Casino, Kasarani, Off Thika Road, P.O. Box 45038, Nairobi 00100 Kenya. In-person registration for media is open here.
WHO: The event will feature several eminent leaders, including:
Hon. Akinwumi Adesina | 2017 World Food Prize Laureate and Member, World Food Prize Foundation Council of Advisors
Terese Shadrach Akpem | 2024 Top Agri-food Pioneer and Founder, Vet Konect
Dennis Beesigamukama | 2024 Borlaug Field Award Recipient and Postdoctoral Fellow, International Centre of Insect Physiology and Ecology
Jun 16, 2026
The Deputy Minister for Food and Agriculture, Hon. John Dumelo, on Monday, received a high-level delegation from the Kingdom of Thailand led by H.E. Mrs Urasa Mongkolnavin, Director-General of the Department of South Asian, Middle East and African Affairs at Thailand’s Ministry of Foreign Affairs, during a courtesy call at the Ministry in Accra.
Discussions focused on strengthening agricultural cooperation between Ghana and Thailand, with particular emphasis on food security, sustainable agricultural development, agribusiness investment and opportunities for public-private partnerships.
A key highlight of the meeting was the interest expressed by Thai investors in Ghana’s palm oil sector. The delegation explored opportunities for establishing palm plantations and processing facilities to support growing demand within the industry.
Mr Dumelo reaffirmed the Government of Ghana’s commitment to creating an enabling environment for agricultural investment and assured the delegation of the Ministry’s support in facilitating access to suitable land for agricultural projects. He noted that Ghana possesses significant agricultural potential and identified the Oti, Ashanti and Ahafo Regions as areas with favourable conditions for palm cultivation.
The Deputy Minister also highlighted opportunities for collaboration with local farmers and encouraged investments that would support value addition, job creation and increased productivity across the palm oil value chain. He further outlined available investment incentives, including possible tax concessions on imported agricultural equipment and support through relevant government agencies.
Both sides expressed optimism about the prospects for deeper cooperation and agreed to continue engagements aimed at advancing agricultural development, trade and investment between Ghana and Thailand for the mutual benefit of both countries.
The delegation, which is in Ghana from 13 to 19 June 2026, included H.E. Mr Thirapath Mongkolnavin, Ambassador of Thailand to Nigeria and concurrently accredited to Ghana, officials from Thailand’s Ministry of Foreign Affairs, representatives of the Royal Thai Embassy in Abuja, Thai businesses, financial institutions, and members of the Thai Community Ghana LBG.
Jun 16, 2026
Agric Minister, Eric Opoku, announced that the intervention forms part of a broader strategy to support smallholder farmers with essential inputs needed to improve yields and enhance livelihoods.
According to the Minister, the fertilizer distribution is expected to benefit thousands of farmers, particularly those engaged in the cultivation of staple food crops.
In addition to the fertilizer support, the Ministry will deploy agricultural drones to selected farming communities to promote modern and technology-driven farming practices. The drones will be used for crop monitoring, precision spraying, field mapping, and the early detection of pests and diseases, helping farmers improve efficiency while reducing production costs.
Mr. Opoku said the initiative demonstrates government’s commitment to transforming agriculture through innovation and targeted support programmes that enhance productivity and sustainability.
“Improving access to fertilizers and modern farming technologies remains critical to increasing food production, strengthening the agricultural value chain, and reducing post-harvest losses,” he noted.
The Minister expressed confidence that the intervention will contribute significantly to Ghana’s food security agenda while improving the incomes of farmers across the country.
The Ministry is expected to provide further details on the distribution process, beneficiary selection criteria, and drone deployment arrangements during the official launch on Tuesday.
