By: Godfred Amoaful

Ghana Water Company (GWL), has been identified as one state-owned entity that incurred massive losses between 2019 and 2023.

According to the State Interest and Governance Authority’s 2023 State Ownership Report, GWL made an average loss of 845.6 million cedis within the four-year period.

During an Editors Forum in Accra, Director General of SIGA, John Boadu, attributed the losses to the company’s provision of potable water services to Ghanaians without recouping the benefits, highlighting the challenges of balancing social responsibility with financial sustainability.

Mr. Boadu stressed that this was discovered through SIGA’s efforts to ensure that State-Owned enterprises (SOEs) submit their operations for audit assistance, promoting transparency and accountability.

The State Interests and Governance Authority established through an Act of Parliament in 2019, ACT 990, oversees and administers the operations of state-owned enterprises, SOEs. Its mandate also includes monitoring and evaluation, promoting proper governance, risk management, and compliance.

At the media briefing in Accra, SIGA highlighted its significant contributions to the country’s GDP, emphasising an increase in its contribution to the GDP from 10 billion cedis in 2020 to 58 point 27 billion cedis in 2022.