President John Dramani Mahama has called on the CEOs of State-Owned Enterprises (SOEs) to transform their entities into competitive businesses rather than political offices.
Speaking during a recent meeting, Mahama emphasized the need for SOE leaders to innovate new revenue streams, eliminate reliance on government bailouts, and drive operational efficiencies to ensure the success and sustainability of their entities.
President Mahama outlined key directives for SOE leaders to implement:
1. Innovation and Revenue Generation
Mahama stressed that SOEs should function like competitive businesses, focusing on creating new revenue streams and reducing dependency on government support.
He urged CEOs to think creatively and move away from traditional approaches that have kept SOEs stagnant and underperforming.
2. Operational Audits and Efficiency
President Mahama directed that comprehensive operational audits be carried out to identify areas where waste can be cut, processes can be streamlined, and service quality can be improved.
These audits are vital to ensuring that SOEs operate at peak efficiency and meet the expectations of the Ghanaian people.
3. Enhancing Service Quality –
Mahama further highlighted that SOEs must not only focus on financial performance but also on delivering high-quality services to the public.
This will be crucial in restoring the confidence of Ghanaians in state-run entities.
He added that the old ways of managing SOEs, where inefficiencies were tolerated and political interference prevailed, must end.
The government, according to Mahama, expects SOE leaders to lead with professionalism, urgency, and accountability.
“If your entity is making losses, you cannot be demanding salary increases or bonuses,” Mahama said.
“Your priority must be to turn your entities around, innovate, and deliver tangible results.”
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