State Enterprises Investment Programme 2023

The State Enterprises Sector comprises 55 companies, of which 43 are wholly owned, eight are majority owned and four in which GORTT has a minority shareholding. A complete list of the State Enterprises is detailed in Appendix I.

These entities operate in the gas and oil industry, banking and financial services, manufacturing, transport and communication, tourism, agriculture, information technology and the provision of social services.

In 2021, GORTT’s equity holding in the State Enterprises Sector totalled $15,656.51 million with a Return on Capital Employed (ROCE) of 10.1 percent. The Sector has demonstrated that it is on the path to full recovery from the impact of the COVID-19 pandemic, with profits in the amount of $3,240.1 million.

The overall performance of the State Enterprises Sector was positive—the energy and energy-based sector turnaround from losses in 2020 to profits in 2021. Similarly, the financial services sector continued its growth trajectory with a 31% increase in profitability from 2020. While there were losses in the other sectors, these improved greatly from what was incurred in 2020, suggesting that a breakeven position may be realized in the very near future.

Source: Ministry of Finance

Date Published: 2022