Government is to institute well-defined governance standards to address shortfalls and ensure the growth of State-Owned Enterprises in the country.
This is to improve structural weaknesses and build resilience of such institutions in a bid to transform the economic growth of the country.
Addressing a news conference in Accra, Finance Minister, Ken Ofori-Atta, said about 25 percent of Ghana’s debt burden emanates from non-Central government operations, which calls for specific intervention targeted at them.
He said the cocoa sector, under the current economic reform agenda, will be revamped to reduce annual losses.
”Ladies and Gentlemen, similar reforms are envisaged under the PC-PEG to revamp the Cocoa Sector and reduce/eliminate the annual losses of Cocobod and its indebtedness. The reforms in the Cocoa sector include the implementation of a turnaround strategy, to be approved by Cabinet by end-June 2023. This is expected to 7 address cocoa pricing issues, Cocobod oversight challenges, introduce cost rationalisation measures and a phase-out of quasi-fiscal spending,” the Finance Minister noted.
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