Hon. Joseph Cudjoe, the Minister for Public Enterprises has indicated that Cabinet is considering a Memo to restructure all Public Enterprises or entities which government has interest in.
According to him, the Memo seeks to liquidate, list on the Ghana Stock Exchange, look for strategic investment and or dispose them.
At a Press Briefing on Wednesday the 12th of July 2023, the Minister outlined the efforts the Secretariat is undertaking together with other agencies of government to streamline the portfolio of public enterprises in Ghana.
Portfolio Management, the world over requires consistent overview and analysis of the interest of the Shareholder to ensure efficiency, economy and profitability at all times.
This approach is no different from what the government of Ghana is currently doing through the by the Minister for Public Enterprises and the Minister for Finance.
Hon. Cudjoe pointed out that the efforts being taken on active entities in which the government has significant stake is to make them more functional, efficient and effective and where they cannot be turned around, to dispose of them.
On specific efforts being undertaken to improve the current stock of entities of the state, he outlined measures undertaken to include, building the capacity of Boards and Board Secretaries in corporate governance, and institutionalization of a code of corporate governance for implementation across all the specified entities.
The rest include the Implementation of the annual stakeholder series, Implementation of the annual performance contracts and the Implementation of the Public Enterprises League Table.
The Minister who is also a Member of Parliament for Effia held that the activities are expected to lead to the improvement of systems and processes for the development of the entities and ensure competition and achievement of targets set for them.
To further consolidate the gains made to include Hon Minister stated that there need to be further improvement in compliance to submission of reports, signing of performance contracts, submission of audited accounts and implementation of restructuring and turnaround plans for entities that require them.
Hon. Cudjoe added that there will be an intensification of the engagement with the Parliament of Ghana and digitalisation and revenue leakage risk mitigation.
The Minister said Specified Entities are a key feature of all countries the world over, saying they are used for growth and development of sectors of the economy and to drive the development envisaged for such sectors.
