The Ghana Airports Company Limited (GACL) has announced plans to pay GH¢30 million to the Government of Ghana, marking its first dividend payment since the company's establishment in 2007. This significant milestone highlights GACL's financial growth and its capacity to generate returns for its sole shareholder, the government. The dividend payment is a result of the company's improved financial performance, despite facing liquidity constraints and significant investments in airport infrastructure.
GACL's Managing Director, Yvonne Afriyie Opare, made the announcement at the company's 11th Annual General Meeting, where she presented the management's report on operational and financial performance for the year ended December 31, 2025. The company's financial performance was impacted by its responsibility for developing, maintaining, and managing airport infrastructure across the country, including regional airports that are yet to generate sufficient revenue to cover their operating costs.
The proposed dividend payment comes amid significant financial commitments associated with GACL's role in developing and managing airport infrastructure. The company continues to finance much of its infrastructure development and public services from its own resources, affecting its liquidity position. Mrs. Opare noted that domestic business operations and regional airports are not yet profitable, putting pressure on the company's finances.
Despite operational challenges, GACL recorded growth across key aviation indicators in 2025. Passenger traffic increased by 6% to 3.6 million, up from 3.4 million in 2024. Aircraft movements rose by 2.2% to 47,270, while cargo volumes increased by 4.8% to 44,826 tonnes. This growth in passenger and cargo traffic supported an improvement in the company's financial performance, with profit rising to GH¢354.6 million in 2025 from approximately GH¢336 million in the previous year.
GACL is also taking steps to ease its debt repayment obligations. The company secured approval to restructure and refinance its syndicated loan, providing for an eight-year extension of the repayment period and a one-year moratorium on principal repayments. This restructuring is expected to provide GACL with additional room to manage its cash flows and meet its investment commitments while sustaining airport operations.
The company's investments in airport infrastructure, particularly the development of Terminal 3 at Kotoka International Airport, have contributed to its liquidity constraints. However, the proposed GH¢30 million dividend payment demonstrates GACL's capacity to generate returns for its shareholder while financing the country's expanding aviation infrastructure needs. The company's growth and financial performance are critical to Ghana's aviation sector.
The successful payment of the dividend will also contribute to the government's revenue and potentially support other national development initiatives. As GACL continues to navigate its financial challenges, its ability to balance commercial obligations with the government's broader aviation infrastructure development agenda will be crucial to its future success and growth.
Key points
- GACL to pay GH¢30 million dividend to government, its first since 2007
- Company's financial performance improved in 2025, with profit rising to GH¢354.6 million
- GACL secures approval to restructure syndicated loan, easing debt repayment obligations
