Wednesday, May 28, 2025
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
No Result
View All Result

GPHA records 39.41% decline in profit in 2020

admin by admin
August 20, 2022
in Business
1
Share on FacebookShare on Twitter

The Ghana Ports and Harbours Authority (GPHA) recorded 39.41% drop in net profit for 2020.

The net profit declined from GH¢185.95 million in 2019 to GH¢112.67 million in 2020.

You might also like

Cedi will depreciate by December if… — IEA warns

Cedi will depreciate by December if… — IEA warns

May 28, 2025
5 key tips before taking a bank loan for your business

5 key tips before taking a bank loan for your business

May 28, 2025

GH¢21.06m spent on CSR

In spite of this, GPHA spent GH¢21.06 million on corporate social responsibility (CSR) activities in the areas of education, health and environment.

2020 State Ownership report

This is contained in the 2020 State Ownership report which shines the spotlight on the performance of entities in which the state has an interest, collectively referred to as specified entities (SEs).

SOEs, JVCs, OSEs, regulatory bodies, and public corporations

These entities comprise state-owned enterprises (SOEs), joint venture companies (JVCs) and other state entities (OSEs) such as regulatory bodies, and public corporations.

8.05% rise in total revenue to GH¢1.4bn

Notwithstanding the impact of COVID-19 pandemic on global trade and maritime transport, the report said GPHA’s revenue increased by 8.05% from GH¢1.3 billion (GH¢1,358.07 million) in 2019 to GH¢1.4 billion (GH¢1,467.37 million) in 2020.

 Revenue boosted by vessel calls

It attributed the increase in revenue to a boost by vessel calls and container traffic.

13% annual increase in revenue since 2016

According to the report, total revenue increased by an average of 13% per annum between 2016 and 2020.

It revealed that revenue from operations, namely charges on vessel services, vessel facilities, oil and gas services, cargo services and cargo facilities made up 89.28% of total revenue.

Operations revenue up by 10.21% to GH¢1.3bn

It increased by 10.21% from GH¢1.1 billion (GH¢1,188.81 million) in 2019 to GH¢1.3 billion (GH¢1,310.13 million) in 2020.

8.11% rise in expenditure to GH¢498.17m

Expenditure increased by 8.11% from GH¢460.79 million in 2019 to GH¢498.17 million in 2020.

General and administration expenses up by 33.80%

The main driver of total expenditure was general and administration expenses which increased by 33.80%.

Exchange losses escalated

GPHA was also hit with exchange losses due to the nature of their operations and transactions which relies on foreign currency denominated loans.

1,901 vessel calls

Key operational results include 1,901 vessel calls in 2020, exceeding target of 1,667 vessel calls.

8.1% rise in cargo traffic to 26.39m

Cargo traffic rose by 8.1% to 26.39 million tonnes over a target of 24.4 million tonnes.

 Container traffic up 29.87% to 1,287, 083

GPHA also exceeded container traffic target by 29.87% with 1,287, 083 container port traffic for 2020.

1.4m tonnes of traffic transit

It attained 1.4 million (1,496,822) tonnes of traffic transit over a target of 1,394,209 tons.

Transshipments containers target exceeded

The Authority also exceeded transshipments containers target of 3,365 container port traffic to an actual of 22,260 container port traffic.

In the same vein, GPHA recorded 83,938 container port traffic of actual transit containers over a target of 67,391 container port traffic.

The Authority’s total weighted score for 2020 Performance Contract was 2.42, which represents a below average performance based on the normalised five-point scoring scale.

Ghana Ports and Habours Authority (GPHA) was established in 1986 to build, plan, develop, manage, maintain, operate and control all ports in Ghana.

GPHA’s business units comprise the Ports of Tema and Takoradi, Tema and Takoradi Fishing Habours, Tema Shipyard and Dry- dock, Transit Sahelian Liaison Office in Burkina Faso, among others

Post Views: 15
Tags: Eye on PortGhanaGPHAMaritimeNewscentaTema Port
admin

admin

Related Stories

Cedi will depreciate by December if… — IEA warns

Cedi will depreciate by December if… — IEA warns

by admin
May 28, 2025
0

The Institute of Economic Affairs (IEA) has issued a strong warning that the Ghana Cedi may depreciate again by December...

5 key tips before taking a bank loan for your business

5 key tips before taking a bank loan for your business

by admin
May 28, 2025
0

Taking a bank loan for your business can be a smart way to fund growth, manage cash flow, or invest...

Ecobank CEO Jeremy Awori backs Ghana’s growth agenda

Ecobank CEO Jeremy Awori backs Ghana’s growth agenda

by admin
May 28, 2025
0

Jeremy Awori, Chief Executive Officer of the Ecobank Group, the leading pan-African banking group, paid a working visit to Ecobank...

MTN CEO rallies private sector to lead economic reset

MTN CEO rallies private sector to lead economic reset

by admin
May 27, 2025
0

Chief Executive Officer (CEO) of MTN Ghana, Stephen Blewett, has called on Ghanaian business leaders to embrace a transformative approach...

Recommended

Bawumia condemns Wontumi’s arrest

Bawumia condemns Wontumi’s arrest

May 28, 2025
Wontumi faked his illness during questioning by EOCO — Former NPP member

Wontumi faked his illness at EOCO — Former NPP man

May 28, 2025
Mahama sacks Anne Sansa Daly from NHIA as board member

Mahama sacks Anne Sansa Daly from NHIA as board member

May 28, 2025

Popular Story

  • Newspapers, Headlines, Newscenta, Monday, May 26,

    Monday, May 26, 2025 Newspaper Headlines

    642 shares
    Share 257 Tweet 161
  • Tuesday, May 27, 2025 Newspaper Headlines

    613 shares
    Share 245 Tweet 153
  • Former NIB Director sues Head of Surveillance for GH₵10m

    612 shares
    Share 245 Tweet 153
  • Wednesday, May 28, 2025 newspaper headlines

    611 shares
    Share 244 Tweet 153
  • On the contrary Mr. KSM, Aglow prayers could fix Dumsor

    608 shares
    Share 243 Tweet 152
NewsCenta

Newscenta is a Ghana-based news organisation publishing in print (The Newscenta Newspaper) and on a digital media platform (newscenta.com) dedicated to delivering timely and impactful news across various sectors, including politics, business, economy, technology, and culture.

  • About NewsCenta
  • Contact Us
  • Privacy Policy
  • Terms of Use

© 2025 All Rights Reserved NewsCenta.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Newspaper Headlines
  • Business
  • Agriculture
  • Education
  • Sports
  • Tech
  • Opinion

© 2025 All Rights Reserved NewsCenta.