President John Dramani Mahama says his plan to list 10 state-owned enterprises (SOEs) on the Ghana Stock Exchange will improve governance and reduce political interference in the sector.
The President made the comments during a fireside chat at the Council on Foreign Relations in New York, where he spoke on his vision for revitalizing Ghana’s economy.
He said the intended impact of the listing was to prevent successive governments from sacking management staff or boards of directors at will.
President Mahama said state-owned enterprises had been synonymous with guaranteed salaries and benefits, irrespective of their financial performance. “So even when they’re making losses, they’re asking for salary increments and asking for bonuses when you’ve made a loss,” he said.
The President said the performance of SOEs improved after the implementation of the measures introduced by the State Interests and Governance Authority (SIGA). President Mahama stated that the sector, which had been posting losses consistently, had recorded an almost GH¢19 billion net profit in the latest reporting period.
SIGA’s 2025 State Ownership Report separately indicates that the state-owned enterprises sector’s net profit after tax stood at GH¢19.8 billion. However, despite the improvement in performance, President Mahama said his government would continue with its plans to list 10 SOEs on the Ghana Stock Exchange.
He identified improvement in governance and reduction in political interference as the main drivers of the decision. The President added that the move would open up investment opportunities for Ghanaians, including those living abroad. The government’s plans for the SOE sector are part of a broader strategy to improve governance and performance in the state-owned enterprises sector.
