SIGA Report: Don’t celebrate GETFund’s surplus as SOE profit — Adomako-Mensah

Member of Parliament for Afigya Kwabre North, Collins Adomako-Mensah, has questioned the inclusion of the Ghana Education Trust Fund (GETFund) in the reported profits and surpluses of State-Owned Enterprises (SOEs).

His comments come after the release of the report on the 2025 performance of Ghana’s State-Owned Enterprises, which has triggered political debate over the financial performance of state institutions.

He said he had no objection to state-owned enterprises making profits, particularly where institutions had implemented measures over time to improve their financial performance.

However, the lawmaker argued that GETFund’s reported surplus should not be treated in the same way as profits generated by commercial state institutions because of the nature of its mandate.

Speaking on Accra-based Metro TV’s Good Morning Ghana programme on Wednesday, September 2, Adomako-Mensah said some SOEs had been on a path of recovery from losses in previous years.

According to him, GETFund receives a percentage of government revenue and is expected to distribute the funds based on a formula approved by Parliament.

“What does GETFund do that should make a profit? GETFund is allocated a certain percentage of our revenues. Your job is just to distribute it according to your formula approved by Parliament. Where is the profit?” he asked.

The MP further argued that an undistributed allocation remaining on GETFund’s books should not necessarily be presented as a financial achievement.

He explained that if funds meant for development projects in constituencies remain undistributed, recording them as a surplus does not necessarily translate into a benefit for the state.