The Minister of Public Enterprises, Joseph Cudjoe, announced that the Public Enterprises Secretariat will work with the Ministry of Finance and the State Interest and Governance Authority (SIGA) to dispose of unused assets of defunct State-Owned Enterprises (SOEs) that are deteriorating on a daily basis.
The move, according to the Minister, will eliminate the unproductive costs incurred by the government in maintaining such assets, and the Secretariat intends to request Cabinet approval to that effect.
Mr. Cudjoe stated at a press Soirée that the Ministry intends to launch a special program to improve the business development capabilities of SOEs in light of the African Continental Free Trade Agreement (AfCFTA) in order to achieve revenue growth.
According to him, strengthening SIGA’s oversight of SOEs will significantly improve the oversight framework.
According to the Minister, snakes and rats have taken over the majority of the assets of the country’s defunct SOEs, a disturbing situation.
“When we drive and walk around, we see a lot of businesses that have failed. When you visit the State of the Republic of Ghana’s enterprise sites, you will only encounter rats and, if you’re lucky, snakes. Certainly, you can point a finger at one state-owned company sitting in the woods. However, SIGA incurs costs in safeguarding these assets, which generate no revenue,” the Minister for Public Enterprises explained.
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