The Fisheries Commission recorded a GH¢10.02 million deficit in 2025, its first deficit in five years, following a sharp decline in internally generated funds (IGF), according to the 2025 State Ownership Report by the State Interests and Governance Authority (SIGA).
The deficit represents a 229.51% deterioration from the GH¢7.74 million surplus recorded in 2024.Total income fell by 47.18%, from GH¢118.96 million in 2024 to GH¢62.84 million in 2025.
The decline was largely driven by a 58.42% drop in IGF, from GH¢83.92 million to GH¢34.89 million during the year.
Although expenditure also declined, the reduction was insufficient to offset the fall in revenue. Specialised expenditure recorded the largest reduction, falling by 91.11% to GH¢1 million.
Liquidity improves
Despite the deficit, the Commission’s short-term liquidity position strengthened significantly.Its current ratio rose to 3.26 times, the highest in five years, from 1.20 times in 2024.
SIGA attributed the improvement largely to a 90.86% reduction in accounts payable, which fell from GH¢12 million to approximately GH¢1.09 million.
The Commission’s debt-to-asset ratio also improved from 0.06 times to 0.01 times, reflecting its substantially lower liability burden.
Total liabilities fell from GH¢16.90 million in 2024 to GH¢1.69 million in 2025, while the Commission had no interest-bearing liabilities.
Accumulated funds decline
The Commission’s accumulated funds declined by 4.07%, from GH¢246.30 million to GH¢236.28 million, reflecting the impact of the 2025 deficit.
Total assets also fell from GH¢263.21 million to GH¢237.98 million.Cash and cash equivalents declined sharply from GH¢17.80 million to GH¢2.95 million.
Operating cash flow also moved from a positive GH¢27.88 million in 2024 to a negative GH¢14.05 million in 2025.The Commission had 494 employees in 2025, down from 519 the previous year.
SIGA also reported that the Fisheries Commission recorded no quasi-fiscal activities or climate-smart investments and reported no major events during the 2025 financial year.
