Public Enterprises Minister sheds light on why government is selling assets of 17 SOEs

July 19, 2023

The Minister of Public Enterprises, Mr Joseph Cudjoe says the government's plan to dispose of assets of some 17 defunct State-Owned-Enterprises (SOEs) will enable it to acquire private investments into such entities for their development and attendant impact on the areas in which they were located.

This follows his announcement of the government's intention to dispose of assets of 17 inactive SOEs whose evaluation processes had already been approved by the cabinet in last Wednesday.

Some of these SOEs, he said were the Ghana National Trading Corporation, State Construction Corporation, State Fishing Corporation, UAC, Aboso Glass Factory, bungalow of the Meat Factory, Bonsa Tyre Factory's Clinic, research laboratory of the Ghana Consolidated Diamonds, and the regional office of the Ghana Food Production Corporation at Srodae.

Detailing the plan to Bernard Avle in an interview on the Citi Breakfast Show (CBS) on Citi FM in Accra on Wednesday, he explained that the move forms part of efforts “…to make sure we secure our private investments into it through government decision to sell them off into private hand so that they will be invested into to develop them to bring jobs to that area.”

He opined that these investments would play a critical role in the government's industrialisation agenda, especially the automobile assembling industry that was springing up across the country.

Meanwhile, the Minister said the government also had plans to restructure some SOEs through listing them on the , liquidation, strategic investment and outright disposal.

As part of efforts to ensure effective and efficient management of the SOEs, the Minister said, in 2021 it introduced a Public Enterprises League Table (PELT) as a tool for assessing the performances of the Specified Entities and to engender healthy competition amongst them for improved performance.

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