President Mahama direct heads of SOEs to end financial recklessness
Business
John Mahama
President John Dramani Mahama has tasked Chief Executives and Managing Directors of State-Owned Enterprises (SOEs) to take decisive steps in reviving their entities as part of the resetting Ghana agenda.
Speaking at a meeting convened by the State Interest and Governance Authority (SIGA) in Accra, President Mahama stressed that the era of impunity, mediocrity, and financial mismanagement must come to an end.
He warned that it would no longer be business as usual, emphasizing that SOEs must be restructured to enhance efficiency and profitability.
Finance Minister, Dr. Cassiel Ato Forson, also underscored the need to reset State-Owned Agencies to operate profitably.
He pointed out that several key enterprises, including the Electricity Company of Ghana (ECG), COCOBOD, and GIHOC Distilleries, have suffered significant financial losses in recent years, which pose a major threat to Ghana’s economic recovery.
The government has pledged strict oversight and reforms to ensure that SOEs contribute effectively to national development and reduce their financial burden on the economy
Source: Classfmonline.com/Cecil Mensah
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