Advocacy group calls for dismissal of CEOs of major state-owned enterprises in Ghana

An advocacy group known as United Voices for Change has demanded the removal of the Chief Executive Officers (CEOs) of several major state-owned enterprises (SOEs) in Ghana, including the Ghana Cocoa Board (COCOBOD), Electricity Company of Ghana (ECG), Ghana National Petroleum Corporation (GNPC), Ghana Water Company Limited, and Ghana Airport Company.

The group alleges that these CEOs have mismanaged

Read full articleresources, leading to significant financial losses for these institutions.

They also accuse the agencies of allowing private involvement in their management, suggesting a deliberate attempt by politicians to drive these enterprises into failure and later engage in corrupt practices.

Professor Abdul Aziz Iddrisu, the convener of the group and a lecturer at Kumasi Technical University, expressed grave concern over the declining financial health of SOEs and its adverse effects on the country's development and economic stability.

He emphasized that state-owned enterprises should be profit-oriented but are currently underperforming, draining the country's resources and hindering its development.

In an interview with Citi News, Professor Iddrisu stated, "Our state-owned enterprises are underperforming; this has drained the country’s resources and plunged the country into underdevelopment and indebtedness. Undisputedly, SOEs are profit-oriented entities and should be making profits. Sadly enough, it appears the managers of these enterprises, in key positions, are more loyal to their appointing authorities than to the development of the companies, leading them to deliberately run SOEs at a loss."

“We also want the President, Nana Addo Dankwa Akuffo-Addo, and the Attorney General to ensure that the CEOs of these entities, after being dismissed, face the law,” he added.

They emphasized that their call for dismissal is supported by verifiable data, facts, and figures, highlighting the urgency of the situation.