President John Dramani Mahama has commended Ghana’s state-owned enterprises (SOEs) for improvements recorded in their 2025 performance but has cautioned that a one-year turnaround will not be enough to demonstrate lasting success.
According to the President, the real test of the government’s reforms will be whether the gains recorded by state-owned enterprises can be sustained through stronger financial and operational performance.
Speaking at a conference with chief executives and governing boards of SOEs on the 2025 State Interests and Governance Authority (SIGA) report, President Mahama said the latest results were encouraging but required sustained effort.
“A one year turnaround is encouraging, but sustained performance is the real test,” he said.
President Mahama commended the entities for the progress captured in the 2025 SIGA report, particularly efforts to establish transparent, accountable and nationally beneficial structures around Ghana’s gold trade.
“These results deserve commendation,” the President said.
He, however, cautioned that the improved performance of some state-owned enterprises must not be attributed solely to a favourable business environment or movements in the exchange rate.
He said SOEs must strengthen their core operations to ensure that their improved performance is sustainable.
“They must, however, be sustained through stronger core operations and cannot depend indefinitely on just a better business environment and the exchange rate movements,” he said.
Persistent weaknesses
While acknowledging the progress made by several entities, President Mahama warned that the improvements should not conceal the broader challenges confronting Ghana’s state-owned enterprise sector.
“Progress by a number of entities cannot mask the persistent weaknesses across the general portfolio,” he said.
The President disclosed that five state-owned enterprises recorded losses in every year between 2021 and 2025, a situation he said underscored the need for deeper and more sustainable reforms.
The continued losses, he noted, highlight the importance of strengthening the financial and operational management of public enterprises to ensure that they contribute more effectively to Ghana’s economic development.
Focus on sustainable reforms
President Mahama said the government would continue working to improve the financial and operational performance of state-owned enterprises.
He stressed the need for public entities to become more efficient, accountable and capable of delivering greater value to the Ghanaian economy.
The 2025 SIGA report assesses the performance and governance of Ghana’s state-owned enterprises and other state entities, providing an overview of their financial and operational outcomes.
The President’s comments come as the government seeks to consolidate improvements within the state-owned enterprise sector while addressing entities that continue to record persistent losses.
He said the focus must now be on turning the recent gains into long-term and sustainable performance rather than relying on temporary economic conditions.
Story by: Andre Mustapha Nii Okai Inusah
Popularly Known As: Attractive Mustapha
Email: attractivemustapha@gmail.com
Contact Number 0244259564
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