Don’t Rely On Govt Bailouts – Mahama To SOEs

President John Dramani Mahama has cautioned that the government will no longer continue to support financially struggling State-Owned Enterprises (SOEs). He urged their boards and management teams to focus on efficiency, accountability and profitability. The President made these remarks at a conference organized by the State Interests and Governance Authority (SIGA).

According to Mahama, relying too heavily on government financial support placed an unnecessary burden on the national budget. He emphasized that continued financial losses should not be quietly absorbed into the national budget. Mahama stressed that leadership positions within SOEs must be tied to measurable performance, value creation and profitability.

He reminded the SOE boards, chief executives and management teams that the assets under their control belong to the people of Ghana, not the government or the board. These assets include ports, power infrastructure, factories, water systems, pension funds, lands, buildings, equipment and government-owned shares. Mahama highlighted that public ownership must translate into public value.

He challenged every institution at the conference to demonstrate, with evidence, the value they have created for the Ghanaian people. Mahama urged SOE leaders to embrace greater efficiency and accountability, ensuring that public institutions are managed in a way that protects and grows the value of assets belonging to Ghanaians.