The Ministry of Public Enterprises has announced its intention to divest 17 non-operational state-owned enterprises.
Among these entities are the State Construction Company, Bonsa Tyre Factory, and Bolgatanga Meat Factory, among others.
A thorough examination of these companies has revealed that they have become burdensome liabilities for the country, causing financial losses to the state.
“From our records, we have 17 defunct entities that the government is taking steps to dispose off. The problem now is that the government is just incurring costs to take care of them while others are just vandalizing assets.
“This is a disturbing situation as far as our public enterprises’ portfolio is concerned,” Joseph Cudjoe, Minister for Public Enterprises said at a press conference on Wednesday.
The Minister further explained that the Ministry aims to list some of these enterprises on stock markets to attract investors who can revitalise them.
“They are just siphoning money from the government’s purse, and they are just becoming liabilities rather than assets. There are some upon review, we intend to list them on the stock market to get the investing public to have equity stakes in them.
“So, it’s like a cleanup of the portfolio so that we can those that are active to be invested to help them grow and generate jobs for the good people of Ghana,” he added.
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