By Love Wilhelmina Abanonave
President John Dramani Mahama has charged the boards and management of State-Owned Enterprises (SOEs) to shift focus from mere survival to value creation that directly impacts the lives of ordinary Ghanaians.
Speaking on the strategic role of state enterprises in national development, the President said the state did not establish enterprises merely to maintain offices and sustain institutions indefinitely.
“The state did not establish enterprises merely to maintain offices, pay salaries and sustain institutions indefinitely, the state did so because certain activities are strategic for national development, and are essential to public interest and necessary to address gaps the market alone cannot resolve,” President Mahama stated.
He said the true measure of success for any state enterprise should not be how busy or visible it appears, nor its ability to pay salaries and keep its offices running, but the tangible value it creates for citizens.
Mahama expressed concern that for far too long, some state entities have defined success narrowly as survival – paying staff, keeping the lights on and maintaining structures – without demonstrating real economic and social impact.
According to the President, this mindset must change if SOEs are to play their rightful role in driving Ghana’s transformation agenda. He challenged the leadership of all state enterprises to adopt a more demanding standard of accountability.
“Every board chairperson and chief executive should be able to answer a more demanding question; what additional value did our entity create this year?” President Mahama quizzed.
He said answering that question should reflect lower costs for farmers, improved services for traders and entrepreneurs, better opportunities for workers and students, and overall support for the productive sectors of the economy.
President Mahama reiterated at the SIGA Governing Boards and Ceos conference today that his government will demand efficiency, transparency and performance from state enterprises, stressing that public resources must translate into public value.
He urged boards to provide strategic oversight and management to ensure innovation, prudent financial management and alignment with national development priorities, warning that entities that fail to justify their continued existence through measurable impact will be subjected to review.
