Public Enterprises Secretariat to dispose of unused assets of defunct SOEs

The Minister for Public Enterprises, Joseph Cudjoe, has disclosed that the Public Enterprises Secretariat would be collaborating with the Ministry of Finance and State Interest and Governance Authority (SIGA) to dispose of unused assets of defunct State-Owned Enterprises (SOEs) which are deteriorating on a daily basis.

The move, the Minister said will stop the unproductive cost government incurs on keeping such assets, adding that the Secretariat intends to request Cabinet approval to this effect.

Speaking at a press Soirée, Mr. Cudjoe said the Ministry seeks to embark on a special programme that would improve the business development capabilities of the SOEs, in the light of the African Continental Free Trade Area (AfCFTA) to achieve revenue growth.

According to him, the framework for oversight is expected to be significantly improved by strengthening SIGA’s oversight of the SOEs.

The Minister said snakes and rats have taken over most of the assets of defunct SOEs in the country, a situation he described as disturbing.

“When we drive and walk around, we can see a lot of enterprises that have collapsed. When you visit the enterprises’ sites belonging to the State of the Republic of Ghana, you will only meet rats and maybe if you are lucky, you’ll see snakes. Certainly, you can point your finger at one company sitting in the bush which belongs to the State. But SIGA incurs costs in safeguarding these assets which do not bring in any revenue,” the Minister for Public Enterprises said.