State Owned Enterprises sign Performance Contract

State Owned Enterprises (SOEs) have been asked to deliver on their specific mandate to help the economic management team to transform the economy.

“I expect you to work with your individual Board of Directors to achieve the transformation that Ghanaians are looking for,” Dr Mahamudu Bawumia, the Vice President, told the chief executive officers of State Owned Enterprises (SOEs) in Accra on Tuesday.

Dr Bawumia, who was addressing the 2017 Performance Contract signing ceremony by the 39 SOEs in Ghana, told the managers that; “SOEs play a critical role in the economy because their performances have a major implication on national growth and development.

“Government is, therefore, interested in your activities because Ghanaians voted for a change and it is the expectation that SOEs would partner government as it rolls out its integrated development programmes.”

He urged the SOEs to be mindful of the Public Financial Act, saying; “Each one of you should obtain one, read, and keep to the standard requirements provided in order not to fall foul of the law in your deliberations”.

Mr Stephen Asamoah-Boateng, the Chief Executive Officer of the State Enterprises Commission, said a lot of the SOEs faced challenges and expressed the need to amend the law governing their establishment and operations to enable them to perform creditably.

This would also help them to generate the needed resources for the running of government business and administration, he said.

The SOEs include the Ghana News Agency, Gridco, Ghana Railways Company and COCOBOD.

Source: GNA