Prime News Ghana

Gov't to offload shares of some state enterprises

By Justice Kofi Bimpeh
CEO of State Enterprises Commission, Asamoah Boateng
CEO of State Enterprises Commission, Asamoah Boateng

Government has hinted of plans to offload part of its shares in some state enterprises.

The move according to government is part of initiatives to empower the private sector to hold a majority stake in some of the state enterprises. The government believes offloading the shares will maximize the profit of the enterprises.

In an interview with Joy FM, Chief Executive of the State Enterprises Commission Stephen Asamoah Boateng said discussions with the finance ministry are far advanced to float some of the state enterprises on the stock market.

The Chief Executive in the interview refused to disclose the possible state enterprises to be listed on the stock market.

"We are now preparing the grounds to see which ones are potentially good to float on the stock market so that Ghanaians can also buy into it, I am more relaxed in terms of getting the fundamentals right, now the new authority coming in need to get the structures going.."

He also explained the conversion of the commission into an authority and its centralization.

"The other ministries which give policy directions sometimes they assume the role of ownership and you have the state enterprises sitting there, the divestiture implementation committee so there were diverse authorities everywhere we have to bring everything under one authority to centralize it to have an oversight role and that authority then reports to the others including parliament."

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