The National Food Buffer Stock Company (NAFCO) has recorded its highest profit in 16 years, posting a Net Profit Before Tax of GH¢91.7 million for 2025. This marks a significant turnaround for the company, which recorded a loss of GH¢19.4 million in the previous year. The achievement was announced by NAFCO CEO, George Abradu-Otoo, during the company's first-ever Annual General Meeting.
According to Mr. Abradu-Otoo, 2025 was a landmark year in NAFCO's history, with the company's financial results representing a major improvement. The company's gross profit margin surged from 1.61% in 2024 to 13.96% in 2025, while Return on Operating Assets moved from -63.80% to 26.29%. These improvements reflect a major enhancement in the deployment and management of the company's assets.
The CEO attributed the turnaround partly to structural reforms and stronger corporate governance, including the establishment of a dedicated Procurement Department and a strengthened Internal Audit Department. Additionally, the company fortified its Food Safety Department and reconstituted its Board and sub-committees. These reforms have contributed significantly to NAFCO's improved performance.
NAFCO also made significant strides in its regional operations, with all 16 regional offices now operational and active. The company provided vehicles, office equipment, and additional staff to support its regional presence. Furthermore, NAFCO revamped the National Food Reserve Programme with an initial GH¢100 million government funding, which enabled the company to stockpile food commodities across the country.
By December 31, 2025, NAFCO had stocked 36,597 bags of maize, 21,287 bags of rice, and 5,982 bags of gari in warehouses nationwide. The company also supplied 18 different non-perishable food commodities to 733 second-cycle institutions under the Free SHS programme. These achievements demonstrate NAFCO's commitment to ensuring food availability and supporting education initiatives.
Despite the financial gains, Mr. Abradu-Otoo noted that NAFCO still faces working capital challenges, with liquidity remaining adequate but marginal. To address this, the company is exploring measures to create a stronger buffer and reduce risk. The CEO emphasized that 2025 was a turning point for NAFCO, with the company having consolidated its gains and shown what is possible.
Looking ahead, Mr. Abradu-Otoo stated that NAFCO will build on its successes, with plans to further enhance its operations and improve food security in Ghana. The company paid GH¢20.3 million in taxes to the state in 2025, its highest annual tax contribution in its 16-year history. With its improved financial performance, NAFCO is poised to play a more significant role in Ghana's food security landscape.
Key points
- NAFCO achieved a record GH¢91.7m profit in 2025, marking a significant turnaround for the company.
- The company's improved performance is attributed to structural reforms, stronger corporate governance, and enhanced regional operations.
- Despite progress, NAFCO still faces working capital challenges and is exploring measures to create a stronger buffer and reduce risk.
