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Ghana's State-Owned Enterprises in crisis - Finance Minister warns

The Finance Minister of Ghana, Ken Ofori-Atta, has raised concerns about the dire financial state of the country's State-Owned Enterprises (SOEs), highlighting their significant losses and the urgent need for reform. During a meeting with the Public Accounts Committee, he pointed out that these enterprises, which include major entities like the Ghana Cocoa Board and the Electricity Company of Ghana, are not only failing to generate profits but are also heavily reliant on government bailouts. The minister emphasized the necessity for a comprehensive overhaul of these SOEs to improve governance, efficiency, and financial management, warning that without such reforms, the economic stability of Ghana could be at risk. He also mentioned ongoing efforts to restructure these entities, including the implementation of performance contracts for CEOs and the establishment of a new State Ownership Policy to guide their operations.

Read the Full BusinessGhana Article at:
[ https://www.businessghana.com/site/news/Business/323824/Ghana%E2%80%99s-State-Owned-Enterprises-in-crisis-%E2%80%93-Finance-Minister-warns ]