Ghana Airports Company Limited (GACL) is set to pay a dividend to the government for the first time in its history. The company has earmarked GH¢30 million for its sole shareholder, the Government of Ghana, according to a report by Citi Newsroom.
Managing Director Yvonne Afriyie Opare announced the plan at GACL's 11th Annual General Meeting, where she presented the company's report on its operations and finances for the year ended December 31, 2025, Citi Newsroom reports.
"GACL has earmarked an amount of 30 million Ghana cedis" for the government, she said. It would be the company's first dividend since it was established in 2007.
GACL's profit rose to GH¢354.6 million in 2025, up from about GH¢336 million in 2024, according to the report.
Passenger traffic increased by 6% to 3.6 million, from 3.4 million in 2024. Aircraft movements rose 2.2% to 47,270, and cargo volumes grew 4.8% to 44,826 tonnes.
Despite the profits, the company faces financial pressure. GACL funds much of its airport infrastructure from its own resources, which strains its cash flow, Citi Newsroom reports. Its obligations include running airports across the country, including the regional airports in Kumasi, Tamale, Sunyani and Ho.
"Domestic business operations and all other regional airports are not yet profitable," Opare said.
Management also faces financing costs linked to the loan used to build Terminal 3 at Kotoka International Airport.
To ease the pressure, GACL has received approval to restructure and refinance its syndicated loan, the report says. The deal extends the repayment period by eight years and includes a one-year grace period on principal payments. The company expects this to improve its cash flow and help it meet its investment commitments.
Regional airports in Kumasi, Tamale, Sunyani and Ho are important for connecting different parts of the country and supporting local economies, tourism and business travel. But domestic passenger numbers are much lower than international traffic at Kotoka, making it hard for these airports to cover their operating costs.
Upgraded facilities at regional airports have improved the passenger experience, but growing domestic air travel enough to make them profitable remains a challenge for GACL and the airlines that serve them.
Kotoka International Airport in Accra is Ghana's main international gateway. Terminal 3, opened in 2018, significantly expanded the airport's capacity and modernised the passenger experience, but the debt used to build it has weighed on GACL's finances.
The GH¢30 million dividend is modest compared with the company's profit, reflecting the need to keep cash for investment and debt repayments. Still, it marks a symbolic shift for a company that has never returned money to its shareholder.
State-owned enterprises in Ghana have often been criticised for failing to pay dividends or for relying on government support. A dividend from GACL is a sign that at least some public companies are generating returns for the state.
The rise in passenger numbers also reflects growing travel to and from Ghana, including tourism and diaspora visits, which are expected to peak again during the December festive season. The government's December in GH 2026 campaign aims to attract even more visitors this year.
Attention will turn to whether GACL can sustain its profits while investing in loss-making regional airports, and whether the restructured loan gives it enough room to improve facilities ahead of the busy holiday season. Travellers will also be watching for improvements in services at Kotoka, where queues and facilities are often under pressure during peak periods.
