The State Interests and Governance Authority (SIGA) has commended the National Food Buffer Stock Company (NAFCO) for its remarkable financial recoveries in 2025.

In a statement, SIGA cited that in 2025 NAFCO erased a loss of GH19 million posted in 2024 and replaced it with a net profit of GH91.7 million.

The Authority said this is a testament to the transformative power of disciplined governance, strategic leadership and institutional resolve.

According to NAFCO's 2025 audited accounts submitted to SIGA, the company’s gross profit margin surged from 1.61% in 2024 to 13.96% in 2025. SIGA expressed that this reflects decisive cost discipline and robust revenue growth.

"Return on Operating Assets rose dramatically from negative 63.809% to a positive 26.29%, signalling a profound improvement in how the company's assets are deployed and managed. Crowning these achievements, NAFCO paid GH20.3 million in taxes to the State in 2025, the highest annual tax contribution in its 16-year history."

SIGA said these gains were no accident and indicated that NAFCO's turnaround was forged through a series of purposeful structural reforms.

The Authority acknowledged the establishment of a dedicated Procurement Department, a strengthened Internal Audit function, a fortified Food Safety Department, and the reconstitution of the Board and its sub-committees.

"The harmonious working relationship betwen the Board, Management and Staff proved cqually decisive.

"In recognition of this milestone, the Board has approved the convening of NAFco's first-ever Annual General Meeting, which will be a landmark moment since the Company's founding in 2010.

"Profitability tells only part of the story. NAFCO emains an indispensable pillar of Ghana's food security architecture.

"It is helping to stabilise food prices, reduce post-harvest losses, support smallholder farmers, which underpins critical government programmes including the Free Senior High School feeding and the National Food Reserve Initiatives.

"Its extensive storage network and food reserve operations continue to protect millions of Ghanaians from the volatility of food supply shocks.

"NAFCO's achievement is a compelling demonstration of what Ghanaian public institutions can accomplish when governance principles are rigorously applied. It is a model we call upon all Specified Entities to emulate."

SIGA reaffirmed its commitment to working closely with all Specified Entities to deepen corporate governance, enforce accountability, and ensure that every cedi of state investment generates maximum value for the people of Ghana.

The Authority assured it will continue to provide intensified regulatory oversight to sustain and build upon NAFCO's hard-won gains.