The government is preparing sweeping reforms aimed at fixing inefficiencies in State-Owned Enterprises (SOEs), with a strong focus on accountability, restructuring, and in some cases, partial privatization.
Speaking on behalf of President John Dramani Mahama at a stakeholder meeting organized by the State Interests and Governance Authority (SIGA), Vice President Naana Jane Opoku-Agyemang made it clear that underperforming state entities will no longer be tolerated as a drain on public finances.
Despite controlling significant national assets across more than 170 entities, many SOEs have failed to deliver meaningful economic returns due to poor governance, mounting liabilities, and operational inefficiencies. The government now intends to reverse that trend as part of its broader economic reset agenda.
A comprehensive review is currently underway, led by the Ministry of Finance and SIGA, to evaluate the financial health and strategic relevance of each enterprise. The outcome will determine which SOEs are worth strengthening, which need restructuring, and which could be partially listed on the stock exchange to improve efficiency and attract investment.
The Vice President emphasized that the reforms will introduce stricter oversight measures, including binding performance contracts, stronger board accountability, and compliance with reporting standards. Leadership within SOEs may also see a shift toward performance-based pay to ensure results-driven management.
Additionally, the “Public Enterprises Big Table” initiative will be used to rank SOEs, creating competition and encouraging improved performance across the sector.
Government officials say the ultimate goal is to eliminate the fiscal risks posed by struggling SOEs and transform them into profitable, well-managed institutions that contribute to national development.
The administration remains confident that with consistent discipline and transparency, SOEs can evolve from a financial burden into key drivers of Ghana’s long-term economic growth.
