Only 11 entities out of the 98 State Owned Enterprises and Joint Venture Companies contributed to the dividend receipts of the state, according to the 2019 State Ownership Report.
They are made up of two SOEs and nine JVCs including one mining company.
The JVCs made the biggest contribution of 83.01% to the dividend receipts in 2019. SOEs and mining companies contributed 16.91% and 0.08% respectively.
Whilst SOES paid ¢10.4 million dividend to government, JVCs paid ¢51.05 million. Mining companies that is AngloGold Ashanti paid ¢50,600.
GCNET, a joint venture company paid the biggest dividend of ¢20 million. It was followed by GCB Bank and Ghana Reinsurance Company –a state owned company- which paid dividends of ¢16.9 million and ¢7.3 million respectively.
GOIL, African Reinsurance and TDC all paid dividends of ¢5.1m, ¢1.29 million and ¢1.4 million respectively.
According to the report, an amount of ¢85.07 million was projected as dividend/surplus receipts from specified entities in 2019.
However, total amount of dividend received was ¢61.50 million, representing a performance of 72.30%. The below par performance was mainly on account of a substantial decrease in dividend received from mining companies.
The dividend contribution of mining companies decreased significantly (99.95%) from ¢112.07 million in 2018 to ¢0.051 million in 2019, due to declining profitability.
Additionally, dividend receipts from SOEs decreased by 20% from ¢13 million in 2018 to ¢10.40 million in 2019.
On a positive note, dividend receipts from JVCs excluding mining companies increased significantly (174.76%) from ¢18.58 million in 2018 to ¢51.05 million in 2019.
Latest Stories
-
Gold Fields Ghana Foundation challenges graduates to maximize benefits of community apprenticeship programme
50 mins -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
1 hour -
Boost for education as government commissions 80 projects
1 hour -
NAPO commissions library to honour Atta-Mills’ memory
1 hour -
OmniBSIC Bank champions health and wellness with thriving community walk
1 hour -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
1 hour -
NDC supports Dampare’s ‘no guns at polling stations’ directive
2 hours -
Police officer interdicted after video of assault goes viral
2 hours -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
2 hours -
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
3 hours -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
3 hours -
Parliament urged to fast-track passage of Road Traffic Amendment Bill
3 hours -
Mr Daniel Kofi Asante aka Electrician
3 hours -
Minerals Commission, Solidaridad unveils forum to tackle child labour in mining sector
3 hours -
Election 2024: Engagement with security services productive – NDC
3 hours