State-owned enterprises are drowning in debt, exceeding a staggering GH₵200 billion.

According to a JoyNews investigation, key SOEs, including ECG, COCOBOD, and VRA, continue to accumulate heavy financial burdens with no clear path to recovery.

Speaking at the National Economic Dialogue on Monday, March 2, Finance Minister Dr. Cassiel Ato Forson did not mince words.

He raised concerns over the financial health of Ghana’s state-owned enterprises (SOEs), revealing that almost all of them are currently operating at a loss.

Dr Forson highlighted the poor financial performance of key institutions, including the Electricity Company of Ghana (ECG) and the Agricultural Development Bank (ADB), emphasising the urgent need for reforms to prevent further economic deterioration.

"Almost all state-owned enterprises are in the red, almost all of them are in the red," Dr Forson remarked, drawing attention to the financial difficulties faced by these public institutions.

He added that "From the Electricity Company of Ghana to the Agricultural Development Bank."