Public Enterprises to use league table to assess performance of SOEs starting May 1
The Ministry of Public Enterprises is set to begin the use of a Public Enterprises League Table starting from next month, May, 2022.
This forms part of efforts to help identify state owned enterprises that are struggling for government to extend the necessary support.
The Public Enterprises Minister, Joseph Cudjoe, has noted that the league table will help keep such enterprises on their toes which will, in turn, urge them to work harder to increase revenue for themselves and the country.
According to the 2020 State Ownership Report, State Owned Enterprises recorded a cumulative loss of GHS 2.6 billion in 2020. This however represents nearly 50 percent improvement over the 2019 aggregate loss of GHS 5 billion.
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On the back of this, stakeholders have called for more urgent and collective work to address these losses and boost revenue.
It is in this regard that the government is introducing the Public Enterprises League Table to monitor State Owned Enterprises to ensure they operate profitably, productively and efficiently.
Although the Minister for Public Enterprises, Joseph Cudjoe, first hinted of this initiative in 2021, he says the league table will finally come into fruition in May.
“For the first time, we’re going to rank the performance of the public enterprises. It is expected that this will encourage all the enterprises to do better. When you’re at the bottom, it would mean that the effort we should make to enable you perform better should be increased. So then such companies will be given more attention, resources, training, investing of capital, and others. In May, the league table will be published,” he explained at a press briefing.
