President John Dramani Mahama
President John Mahama has declared that struggling State-Owned Enterprises (SOEs) will either be merged, put on listings, or shutdown to end what he calls “economic dead weight.”
Giving an account of his first 120 days in office to Ghanaians on Wednesday, May 7, 2025, President Mahama said government-owned entities must contribute value, not losses.
He added that the closure or merger is part of a comprehensive “deep-dive study” which is already underway to investigate the causes of underperformance.
“This may involve shutting down some or merging others,” he said.
The President disclosed that on March 13, 2025, he held a high-level meeting with CEOs under the State Interests and Governance Authority (SIGA) to stress the urgency of reform.
“We promised to shake up and realign state-owned enterprises to enhance their profitability and value,” he reminded the nation.
President Mahama said his administration has begun rolling out an enhanced Performance Management System with “clear targets” to closely track financial and operational performance while promoting good governance across the sector.
“We are implementing an enhanced performance management system… and promoting good governance,” he explained.
The President also hinted at bold market-oriented moves, including potential listings on the Ghana Stock Exchange.
“SIGA is facilitating discussions with the Ghana Stock Exchange about potential listings of at least ten SOEs,” he revealed.
He also confirmed talks are ongoing to revive the once-thriving Produce Buying Company.
Mahama stressed that the era of politically shielded inefficiency must end.
“SOEs must prioritise dividend payment as their primary objective this year,” he declared.
The sweeping reforms are part of Mahama’s wider effort to restore fiscal discipline and rebuild public confidence in the management of national assets.
“We are no longer going to tolerate state agencies that exist just to consume,” he said.
A Business Desk Report