SIGA Directs Bui Power Authority to Distribute Dividends by 2025
The State Interests and Governance Authority has charged the Bui Power Authority to begin paying dividends to the government starting in the 2025 financial year.
Bui Power Authority (BPA) reported total revenue of $139.7 million in 2024 from energy dispatch, slightly above its target of $139.5 million.
The performance, however, represents an 11.1 percent decline from the previous year, reflecting reduced generation from lower inflows into its reservoir.
Despite the revenue dip, tighter cost controls pushed net profit to $64.5 million—almost double its target of $33.6 million.
General Manager of Operations at SIGA, Millicent Atuguba, speaking at Bui Power Authority’s 2024 annual general meeting, tasked the company to position itself to deliver dividends to the government.
“Commercial entities like BPA must no longer be perceived as a burden but rather a vital economic asset that drives Ghana’s socio-economic development, especially in the era of a reset agenda. For this reason, our expectations of BPA are straightforward which are to be efficient, profitable, and to pay dividends to the government of Ghana.
“By the close of the 2025 financial year, we look forward to BPA demonstrating its commitment by paying a dividend for the first time. This will mark the beginning of a reset where SOEs take their rightful place and significantly contribute to non-tax revenue and national and economic growth,” she said.
The Bui Power Authority Act, 2007 (Act 740) charged BPA with the development of a hydroelectric power project on the Black Volta River at Bui and any other potential hydroelectric power sites on the Black Volta River and for related matters.
It mandate was subsequently amended by the Bui Power Authority Amendment Act 2020, (Act 1046) to include development of renewable energy and any other clean energy alternatives in the country and provide for related matters.
