GPHA pays GH¢4 million dividend to gov’t

The Ghana Ports and Harbours Authority (GPHA) has paid GH?4 million as dividend to the government on its 2014 accounts.

Mrs Dzifa Aku Ativor, Minister of Transport, who led the GPHA team to present the cheque, said the payment showed the company’s commitment to honouring its statutory obligations.

She said GPHA had embarked on various infrastructure developments at the port and expressed the hope that the company would be in a better position to pay more dividend in the future as its revenue increased.

In his remarks, Mr. Richard Anamoo, Director General, GPHA, said the payment was an indication that the port was doing well despite the challenges.

He said the GPHA would continue with efforts to increase revenue and productivity at the port.

Mr. Anamoo, however, appealed to government to review GPHA tax obligations since a large part of its profits were being ploughed back into infrastructure development at the port.

“We need a lot more investment in the port and reducing our tax obligations to state would go a long way in helping us to achieve our goals,” he said.

Receiving the cheque, Mr Cassiel Ato Forson, Deputy Minister of Finance, said it was gratifying to see a State Owned Enterprise (SOE) paying dividend to the government.

He said whiles most SOE’s were going through challenges; there is the hope that they would overcome their difficulties and be in a position to honour their tax obligations to the state.

He said the government was aware of the challenges confronting the GPHA, adding that, government would give it the needed support.

He said government had provided guarantees for loans acquired by most SOE’s resulting in the country’s debt to Gross Domestic Product being very high.

“The public perception is that the government is the one borrowing to much but SOE’s have taken loans that the government has provided guarantees for,” he said.

The Deputy Minister urged SOE’s to go in for Public Private Partnership to raise the needed capital for expansion and cited the partnership between the GPHA and the Meridian Port Services as an example that other SOE’s must emulate.