President John Mahama has announced plans to transform State Owned Enterprises (SOEs) into robust pillars of economic strength.
The president said the approach forms part of his aggressive reform agenda targeting struggling state-owned enterprises (SOEs).
He disclosed that his administration will consider merging, listing and shutting down some of the SOEs to end what he termed “economic dead weight”.
Delivering an address to the nation marking his first 120 days in office on Wednesday, May 7, 2025, the president posited that the era of half measures was over and promised a root-and-branch transformation of SOEs to make them efficient and profitable.
“My vision is clear: to transform SOEs into robust pillars of economic strength,” he said, stressing that government-owned entities must contribute value, not losses.
According to him, some SOEs could face closure or be merged, as a comprehensive “deep-dive study” is already underway to investigate the causes of underperformance.
“This may involve shutting down some or merging others,” he said, adding that his government is prepared to take tough but necessary decisions.
Recounting the meeting he held on March 13 with CEOs under the State Interests and Governance Authority (SIGA), he said, “We promised to shake up and realign state-owned enterprises to enhance their profitability and value,” he reminded the nation.
He added that the government has rolled out several programmes aimed at enhancing the Performance Management System with “clear targets” to closely track financial and operational performance while promoting good governance across the sector.
“We are implementing an enhanced performance management system… and promoting good governance,” he said.
He further revealed that plans were underway for bold market-orientated initiatives, including potential listings on the Ghana Stock Exchange.
“SIGA is facilitating discussions with the Ghana Stock Exchange about potential listings of at least ten SOEs,” he revealed.
According to him, talks were underway to revive the once-thriving Produce Buying Company.
“SOEs must prioritise dividend payment as their primary objective this year,” he declared.
“We are no longer going to tolerate state agencies that exist just to consume,” he said.
By: Rainbowradioonline.com/Ghana
