President John Mahama has launched a bold reform drive targeting Ghana’s struggling state-owned enterprises (SOEs). His administration plans to shut down, merge, or list several SOEs to eliminate what he calls “economic dead weight.”
In his national address on May 7, marking 120 days in office, Mahama declared an end to half measures. “We must transform SOEs into pillars of economic strength,” he said. According to him, public entities must deliver value, not losses.
A detailed review of all SOEs is already underway. Based on the findings, the government may shut some down or merge them. Mahama assured the public that his team is ready to make tough decisions.
On March 13, Mahama met with SOE leaders under the State Interests and Governance Authority (SIGA). At that meeting, he emphasized the urgency of reform. As a result, his administration is introducing a performance system with clear financial and operational targets. It also promotes good governance.
In addition, Mahama announced that SIGA is in talks with the Ghana Stock Exchange. These discussions aim to list at least ten SOEs, boosting transparency and attracting investment. Talks are also ongoing to revive the Produce Buying Company.
“We won’t allow state agencies to exist only to consume,” Mahama stated. He directed all SOEs to make dividend payments a top priority this year.
This reform is part of a wider push to restore fiscal discipline and rebuild trust in public institutions. Mahama also touched on broader efforts to fight corruption and clean up the mining sector.
With these moves, his administration signals its readiness to realign the economy and deliver meaningful change.
