NEDCo Cut Net Losses by 54% in 2025 — Dapilah Defends SIGA Report
Board Chairman of the Northern Electricity Distribution Company (NEDCo), Cletus Seidu Dapilah, has defended the latest State Interests and Governance Authority (SIGA) report, describing it as evidence of improving accountability, governance and management among state-owned enterprises.
Speaking on TV3’s New Day, Mr Dapilah said the era when managers of state-owned enterprises could preside over persistent losses without being held accountable must end.
“I am happy about this report because gone are the days where people used to manage state-owned enterprises, whether they incur losses or profit, nobody cared about it,” he said.
According to him, chief executive officers, board chairpersons and board members of state institutions have a responsibility to the Ghanaian people and must ensure that their organisations deliver on their respective mandates.
He commended SIGA, particularly its leadership under Professor John B. White, for strengthening compliance and governance standards across state-owned institutions.
“SIGA has done so well, fared well under the leadership of Professor White. In fact, he’s been so critical about state-owned agencies in terms of compliance,” Mr Dapilah said.
He explained that state-owned enterprises are now expected to properly organise and audit their accounts, sign performance contracts and hold annual general meetings as part of efforts to improve transparency, accountability and corporate governance.
“There are indicators that every state agency must comply, and I’m happy under Professor White, no state agency actually takes this for granted,” he added.
Mr Dapilah cited NEDCo’s financial performance as an example of the progress being made, despite the company continuing to record a net loss.
He disclosed that NEDCo’s net loss declined from GH¢650.75 million in 2024 to GH¢300.46 million in 2025, representing a 54 percent reduction.
“In 2024, NEDCo recorded a net loss of GH¢650.75 million. In 2025, we recorded a net loss of GH¢300.46 million. That is 54 percent improvement. That’s fantastic,” he said.
The NEDCo Board Chairman argued that the performance of state-owned enterprises should not be assessed solely on whether they record profits or losses, but also on their ability to reduce losses, improve efficiency and strengthen their operations.
He attributed NEDCo’s improved performance to effective leadership and prudent management, stressing that heads of state institutions must remain focused on fulfilling the mandates for which they were appointed.
“So, it also boils down to leadership. It boils down to prudent management of these organisations,” he said.
Mr Dapilah also backed the Finance Ministry’s requirement for state-owned enterprises to obtain prior approval before undertaking major financial commitments, including loans and other credit facilities.
Although some state institutions have raised concerns about the measure, he said the requirement was necessary to safeguard public finances and ensure effective checks and balances.
“I think, see, somebody must watch somebody. This ensures checks and balances,” he said.
He explained that when state-owned enterprises contract financial obligations and subsequently fail to repay them, the resulting liabilities could eventually become a burden on the government and add to the country’s fiscal obligations.
“You take a facility, you are not able to pay, then at the end of the day, it is in the books of Government of Ghana, and that cannot be allowed to continue,” he said.
Mr Dapilah further praised SIGA for strengthening accountability among managers of state-owned enterprises, describing the latest report as an important step towards improving public-sector governance.
“This is accountability. This is what we call good governance, and I am so happy about this report,” he said.
He urged stakeholders to assess the SIGA report objectively, arguing that institutions that continue to record losses should not necessarily be judged solely on that basis when there is clear evidence of substantial improvement in their financial and operational performance.
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