It’s mediocrity to celebrate SoEs that only reduced their losses in 2025 – Brako-Powers
He identified the Electricity Company of Ghana (ECG) as “the elephant in the room”, given its persistent financial difficulties
Austin Kwabena Brako-Powers, a private legal practitioner and policy analyst, has criticized the celebration of state-owned enterprises (SoEs) that only managed to reduce their losses in 2025. Mr Brako-Powers believes that such celebration is an example of "mediocrity" and that it should not be treated as equivalent to profitability. While a reduction in losses may indicate some improvement in performance, it is not an achievement comparable to profitability.
ECG, the Electricity Company of Ghana, was identified as the "elephant in the room" by Mr Brako-Powers due to its persistent financial difficulties. According to SIGA reports, ECG is among five SoEs that have been unable to break even since 2021. The liabilities of the SoE sector stand at over GH₵281 billion, with ECG alone accounting for over GH₵82 billion.
Despite the reported $19.8 billion net profit recorded by the SoE sector, Mr Brako-Powers emphasizes that it must be assessed with sobriety. He urges the government and SoE managers to set higher standards for public institutions, distinguishing between those that can become stronger and those that may no longer have a compelling justification for state ownership.
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