Public Enterprises Minister Joseph Cudjoe has urged Ghanaians to take a keen interest in the performance and profitability of all State-Owned Enterprises (SOEs), rather than focusing on just a few prominent ones. He emphasized that there are 175 Specified Entities, including 53 State-Owned Enterprises, owned and funded by the state through taxpayer money.
However, he noted that the general public tends to focus only on a few well-known SOEs like ECG, COCOBOD, TOR, and PBC, which is just a small fraction of the total. Cudjoe stressed the importance of proper management of taxpayer funds, highlighting that the profitability of SOEs directly impacts the growth of public investment.
He encouraged Ghanaians to learn about all SOEs and develop an interest in their operations, as their taxes are invested in these enterprises. Cudjoe’s call comes after he revealed that some SOEs have failed to sign performance contracts, despite President Akufo-Addo’s directive to promote transparency and accountability.
The Minister emphasized that signing performance contracts is essential for ensuring transparency and accountability and achieving set targets within these enterprises. He urged the media and the public to scrutinize those companies that are not signing performance contracts, stressing that their involvement is crucial for ensuring transparency.
Cudjoe listed some of the SOEs that have failed to sign performance contracts, including the National Youth Authority, National Entrepreneurship and Innovation Programme, and National Pensions Regulatory Authority. He encouraged Ghanaians to demand transparency and accountability from all SOEs, ensuring that their tax revenues are accounted for in a transparent manner.
