The Ministry of Public Enterprises is set to launch a league table to evaluate and showcase the performance of State-Owned Entities(SOEs).
This initiative aims to address concerns about the financial losses many of these enterprises have faced.
The Minister of Public Enterprises, Joseph Cudjoe, announced the move at a media briefing in Accra, noting that the league table will promote competition among state enterprises and highlight underperformers.
“As soon as you put people in competition to do anything, you get the best out of them. So this innovation I brought about, called the public enterprises league table, puts the enterprises together and ranks them from governance, management and to profitable issues, use of technology in their expectations and digitalisation. It is expected of the public enterprises to deliver on this and the public enterprise league table will look at that element as part of the performance assessment criteria.”
“We will be able to know which companies have improved in performance and which of them have slugged in performance and what necessary strategies have been put in place to assist. So expect this publication in September,” he said.
The minister encouraged Ghanaians to take an active interest in the performance of these state entities.
“I am leaving a message to the general public. You and I, our taxes should be managed well. Our taxes get invested in state enterprises. If it reports profits, your taxes invested are growing. If they report losses, it’s not a pleasant outcome. So you should be interested in the companies that are not signing performance contracts and be asking questions. Why are you not signing a performance contract?
“We should be interested. We shouldn’t overly be interested in the ECG, Cocobod, PBC, out of 175. Let’s be interested in all of them,” he said.