Government working on policy to list profitable SOEs on the stock market – Joseph Cudjoe

The Minister of Public Enterprises, Joseph Cudjoe, has said the government is working on a policy to ensure that it enlists a number of profitable State-Owned Enterprises (SOEs) on the Ghana Stock Exchange for the first time.

According to him, an Equity Study is currently being undertaken, out of which an implementation will lead to a government action toward a strategic investor to participate in the sustainability of some SOEs.

Speaking in an interview with GhanaWeb Business, Joseph Cudjoe explained that, “this study will determine which SOEs are required to be put on the stock market to enable Ghanaians to take ownership part in the enterprises.

“…Also, this study will determine SOEs that will need to be disposed of completely because their market potential may not exist or the private sector can better handle them, or for any other reason that their assets or enterprises as a whole should be disposed of off to enable private sector manage them efficiently,” he told GhanaWeb Business.

The minister further added that the Equity Study has been granted expression along with ongoing work ongoing a cabinet memo for the asset disposal policy.

“So far, we have gone to cabinet for a start and it has directed that we provide more comprehensive information on the Equity Study and the implementation of the assent disposal policy,” Joseph Cudjoe said.

To ensure SOEs remain profitable and efficient, the minister said the State Interests and Governance Authority (SIGA) is handling the rollout of the Performance Management Framework.

He said the document is currently undergoing stakeholder review in order to make it efficient for use.

MA