The Ghana Shippers’ Authority (GSA) has posted a sharp improvement in its financial performance for the 2025 financial year, recording a net surplus of GH¢258.30 million, a 271.52 percent increase over the GH¢69.52 million posted in 2024.

The performance is contained in the 2025 State Ownership Report published by the State Interests and Governance Authority (SIGA), which provides a comprehensive assessment of the financial and operational performance of State Owned Enterprises (SOEs), Joint Venture Companies (JVCs) and Other State Entities (OSEs).

According to the report, the GSA’s growth in surplus was driven by a significant expansion in income during the year under review. Total income rose to GH¢380.15 million in 2025, nearly doubling from the GH¢191.76 million in total revenue recorded in 2024 as captured in the 2024 State Ownership Report.

The Authority also strengthened its balance sheet considerably. Total assets increased to GH¢979.92 million in 2025, positioning the Authority close to the GH¢1 billion asset threshold and reflecting sustained growth in its resource base and financial capacity.

SIGA further reiterated that the GSA’s accumulated fund stood at GH¢810.46 million in 2025, underlining a solid equity position and improved long-term financial sustainability. A key highlight of the 2025 performance is the improvement in operational efficiency.

The Authority’s surplus margin increased to 67.95 percent in 2025, compared with 36.25 percent in 2024. This means that for every cedi of income generated in 2025, the Authority retained nearly 68 pesewas as surplus, compared to about 36 pesewas in the previous year.

GSA Intensifies Shipper Protection and Port Efficiency Drive

The GSA, which is mandated to protect and promote the interests of shippers in Ghana and to support efficiency across the maritime and trade logistics value chain, has in recent years intensified stakeholder engagements, intensified advocacy for competitive freight rates, and stepped up its regulatory oversight to ensure efficiency at the country’s ports and borders.

The improved financial performance comes under the leadership of Professor Ransford Gyampo, who has been leading the Authority’s reform and repositioning agenda. Under his stewardship, the Authority has emphasized transparency, operational efficiency, and stronger collaboration with shipping lines, freight forwarders, importers, exporters, and state agencies operating within the trade logistics ecosystem.

‘’GSA’s performance in 2025 reflects not only growth in internally generated revenues but also the increasing strategic relevance of the Authority in Ghana’s international trade facilitation agenda at a time when global shipping costs and supply chain disruptions remain major concerns for importers and exporters.’’
Prof. Gyampo

In 2024, the Authority recorded a net surplus of GH¢69.52 million on total revenue of GH¢191.76 million, according to SIGA’s 2024 State Ownership Report. The 2025 results therefore represent more than a three-fold increase in surplus year-on-year, making the GSA one of the most improved state entities in terms of profitability in the year under review.

The total asset base of GH¢979.92 million also represents a significant milestone for the Authority. Coming within touching distance of the GH¢1 billion mark, it strengthens the GSA’s capacity to invest in infrastructure, digital platforms for shipper services, and other interventions aimed at reducing the cost of doing business at Ghana’s ports.

The GH¢810.46 million accumulated fund further provides a cushion for future operations and investments, ensuring that the Authority can sustain its mandate without excessive reliance on central government subvention.

SIGA Report Evaluates SOEs on Efficiency, Profitability and Governance

The 2025 State Ownership Report forms part of SIGA’s statutory mandate to promote efficiency, profitability and good governance among specified entities in which the state has interest. The report assesses performance against indicators such as revenue growth, profitability, asset utilization, dividend contribution, and compliance with governance and reporting standards.

For the GSA, the 2025 performance is expected to feed into broader discussions about the financial health of Ghana’s state entities and their ability to contribute meaningfully to national development and fiscal consolidation efforts.

While SIGA is yet to publish the full comparative ranking of all entities for 2025, early indications from the reported figures suggest the GSA will feature among the top performers in terms of surplus growth and margin improvement.

The Authority has indicated its commitment to sustaining the growth trajectory by deepening reforms, leveraging technology to improve service delivery, and strengthening partnerships with both public and private sector players in the maritime and trade facilitation space.

As Ghana continues to position itself as a gateway and transhipment hub for the West African sub-region, the financial resilience of key trade institutions such as the Ghana Shippers’ Authority is seen as critical to driving competitiveness, reducing trade costs, and enhancing Ghana’s attractiveness as a destination for international commerce.

With a net surplus of GH¢258.30 million, total income of GH¢380.15 million and total assets approaching GH¢1 billion, the GSA’s 2025 financial year marks a decisive turnaround and sets a strong foundation for its mandate of advancing the interests of shippers and improving efficiency within Ghana’s maritime and trade logistics sector.