The National Food Buffer Stock Company (NAFCO) has recorded its highest profit in 16 years, posting a Net Profit Before Tax of GH¢91.7 million for 2025.

The figure marks a major turnaround for the company, which recorded a loss of GH¢19.4 million in the previous year.

Presenting his review at NAFCO’s first-ever Annual General Meeting, CEO George Abradu-Otoo described 2025 as a landmark year in the company’s history.

“The financial results for the year ended 31 December 2025 represent a landmark in NAFCO’s history,” he said.

He noted that NAFCO had recorded profits in 2018, 2019, 2020, 2022 and 2023, but the highest profit before 2025 was GH¢2.8 million.

The company’s gross profit margin also surged from 1.61% in 2024 to 13.96% in 2025.

Return on Operating Assets moved from-63.80% to 26.29%, reflecting what the CEO described as a major improvement in the deployment and management of the company’s assets.

NAFCO also paid GH¢20.3 million in taxes to the state in 2025, the highest annual tax contribution in its 16-year history.

Mr Abradu-Otoo attributed the turnaround partly to structural reforms and stronger corporate governance.

These included the establishment of a dedicated Procurement Department, a strengthened Internal Audit Department, a fortified Food Safety Department and the reconstitution of the Board and its sub-committees.

He said the company had also improved its regional operations.

“All our 16 regional offices are operational and active,” he said, following the provision of vehicles, office equipment and additional staff.

NAFCO also revamped the National Food Reserve Programme with an initial GH¢100 million government funding.

By December 31, 2025, the company had stocked 36,597 bags of maize, 21,287 bags of rice and 5,982 bags of gari in warehouses across the country.

The company also supplied 18 different non-perishable food commodities to 733 second-cycle institutions under the Free SHS programme.

Despite the financial gains, Mr Abradu-Otoo said NAFCO still faces working capital challenges.

He said liquidity remains adequate but marginal, requiring measures to create a stronger buffer and reduce risk.

“The year 2025 was a turning point. We recorded our highest profit in 16 years. We improved payments to our suppliers. We resourced our regions. We paid the highest tax to the state,” he said.

“We have consolidated. We have shown what is possible. Now we build.”