State-owned enterprises must prove value created for Ghanaians – Mahama

President John Dramani Mahama has challenged state-owned enterprises (SOEs) to demonstrate the value they create for the Ghanaian people.

The President has cautioned that persistent losses can no longer be absorbed quietly into the national budget.

He said ownership of state enterprises must translate into measurable public value, with the performance of chief executives and other leaders assessed against clear results.

Speaking at the SIGA Governing Boards and CEOs Conference in Accra on Thursday, September 10, President Mahama said the government’s reset of its relationship with state-owned enterprises required stronger accountability and performance.

“Ownership must produce public value. Every institution represented here must demonstrate with credible evidence the value that it has created for the Ghanaian people," the President noted.

President Mahama recalled that at a meeting with chief executives in March 2025, he made it clear that persistent losses by state-owned enterprises could no longer be routinely absorbed into the national budget.

“I said that persistent losses could no longer be quietly absorbed into the national budget, and that SIGA must become an effective ownership and performance institution, and that leadership positions should be tied to measurable value and profits," noted Mr. Mahama.

He acknowledged improvements recorded by some state entities, particularly in the gold trade, but said that a single year of improved performance would not be enough to demonstrate a sustainable turnaround.

The President said progress by some entities should not conceal persistent weaknesses across the broader state-owned enterprise portfolio.