GTA’s Financial Strength Weakens Despite 2025 Tourism Activities

The Ghana Tourism Authority  (GTA) organised and supported a number of major tourism activities in 2025, but its financial statements show a weakening financial position, with declining assets, shrinking cash reserves and continued dependence on external funding.

The 2025 State Ownership Report lists several important events undertaken during the year, including Chocolate Day, Taste 68@68, Kwahu Paragliding, Panafest/Emancipation Day, World Tourism Day, the National Tourism Awards and December in GH.

Despite these activities, the Authority ended the year with GH¢58.26 million in total income and a net deficit of GH¢1 million.

The report’s key figures show that the GTA had GH¢14.07 million in total assets and GH¢9.19 million in total accumulated funds at the end of 2025.

It also recorded zero internally generated funds.

The GTA’s mandate is to regulate, supervise, promote and develop Ghana’s tourism industry.

It is responsible for ensuring sustainable tourism growth, licensing and monitoring tourism enterprises, maintaining industry standards, promoting tourist attractions, safeguarding consumers and collaborating with stakeholders to position Ghana as a leading tourism destination.

Its stated strategic intent is to promote the sustainable development of the tourism industry both within Ghana and internationally.

However, the financial report raises questions about the Authority’s ability to finance its operations independently.

The GTA generated no IGF in either 2024 or 2025.

At the same time, government grants fell dramatically from GH¢43.98 million to GH¢21.39 million.

Although other income increased to GH¢36.87 million, total income still fell by GH¢13.31 million, from GH¢71.57 million to GH¢58.26 million.

The Authority’s total expenditure dropped by 24.11%, from GH¢78.09 million in 2024 to GH¢59.26 million in 2025.

However, personnel expenditure increased by almost GH¢4.4 million, rising from GH¢29.25 million to GH¢33.64 million.

As a result, personnel costs accounted for 57.73% of total income in 2025, compared with 40.88% in 2024.

Service activity expenses, meanwhile, fell from GH¢36.60 million to GH¢12.17 million.

The report said the decline in expenditure was therefore primarily associated with reduced programme and service activities rather than improved efficiency.

The GTA’s cash position weakened considerably during the year.

Cash and cash equivalents declined from GH¢1.30 million to GH¢0.64 million, while operating cash flow moved from a positive GH¢3.84 million to negative GH¢0.06 million.

Total assets also fell by 10.84%, from GH¢15.78 million to GH¢14.07 million.

Total equity declined from GH¢10.19 million to GH¢9.19 million, while liabilities reduced from GH¢5.60 million to GH¢4.87 million.

The debt-to-asset ratio improved marginally from 0.36 to 0.35, suggesting that the Authority remains relatively lightly leveraged.

However, the report said its long-term stability is gradually weakening due to continuous deficits, declining accumulated funds, a shrinking asset base and the lack of internally generated revenue.

The report also states that the Ghana Tourism Authority did not report any quasi-fiscal activities for 2025.

It similarly reported no climate-smart investments during the year.

The Authority is currently headed by Maame Efua Houadjeto, while Gertrude Emefa Donkor serves as Chair of the Governing Board.

The board secretary is Stella Osei, with members including Maame Efua Houadjeto, Yusif Issaka Jajah, Kwame Adu Darko Okyere-Mensuo, Samuel Seth Passah, Joseph Osiakwan, Suweibatu Adam, Afi Amoro, Anthony Bart-Appiah, Bella Korkoe Ayayee Ahu and Darison Baba Al-Hassan. The report indicates the listed board appointments were made in August 2025.

The GTA’s auditors are TRC Consult Chartered Accountants.

The Authority operates under the GTA Act, 2011 (Act 817) and falls under the Ministry of Tourism, Culture and Creative Arts (MOTAC)